Yiren Digital (NYSE:YRD) Shares Gap Up – Should You Buy?

Yiren Digital Ltd. (NYSE:YRD)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $6.82, but opened at $6.97. Yiren Digital shares last traded at $6.80, with a volume of 7,445 shares changing hands.

Yiren Digital Stock Up 7.3 %

The firm has a fifty day moving average of $6.06 and a 200-day moving average of $5.56. The firm has a market cap of $641.74 million, a P/E ratio of 2.52 and a beta of 0.65.

Hedge Funds Weigh In On Yiren Digital

Several hedge funds have recently added to or reduced their stakes in YRD. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Yiren Digital by 33.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 341,877 shares of the technology company’s stock valued at $1,641,000 after buying an additional 85,414 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Yiren Digital by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,088,920 shares of the technology company’s stock worth $5,225,000 after purchasing an additional 30,641 shares during the period. Trexquant Investment LP acquired a new stake in shares of Yiren Digital during the fourth quarter worth about $138,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Yiren Digital during the third quarter worth about $153,000. Finally, American Century Companies Inc. acquired a new stake in Yiren Digital in the 4th quarter valued at approximately $107,000. Institutional investors own 1.99% of the company’s stock.

About Yiren Digital

Yiren Digital Ltd. provides financial services through an AI-powered platform in China. Its platform provides a suite of financial and lifestyle services. The company offers financial services, which provides a portfolio of loan products to borrowers; insurance brokerage services; and consumption and lifestyle services, including non-financial products and services to meet various consumer needs.