Yiren Digital (NYSE:YRD) Share Price Crosses Above 50 Day Moving Average of $5.04

Yiren Digital Ltd. (NYSE:YRD)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.04 and traded as high as $5.60. Yiren Digital shares last traded at $5.48, with a volume of 328,601 shares changing hands.

Yiren Digital Stock Performance

The company’s 50-day moving average price is $5.05 and its 200 day moving average price is $4.00. The stock has a market cap of $461.66 million, a PE ratio of 1.60 and a beta of 0.66.

Yiren Digital (NYSE:YRD) last released its quarterly earnings results on Thursday, March 21st. The technology company reported $0.91 earnings per share (EPS) for the quarter. Yiren Digital had a return on equity of 28.62% and a net margin of 42.51%. The business had revenue of $179.48 million during the quarter.

Hedge Funds Weigh In On Yiren Digital

A number of hedge funds have recently made changes to their positions in the business. RFG Advisory LLC bought a new position in shares of Yiren Digital during the first quarter worth $715,000. Acadian Asset Management LLC purchased a new position in shares of Yiren Digital during the third quarter valued at about $232,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Yiren Digital by 238.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 57,425 shares of the technology company’s stock worth $140,000 after purchasing an additional 40,479 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Yiren Digital in the fourth quarter worth about $38,000. Finally, QRG Capital Management Inc. bought a new position in Yiren Digital during the third quarter valued at approximately $27,000. Institutional investors own 1.99% of the company’s stock.

About Yiren Digital

Yiren Digital Ltd. operates an AI-powered platform. Its platform provides a suite of financial and lifestyle services in China. The company delivers digital financial services, insurance solutions, as well as consumption and lifestyle services. It supports clients at various growth stages, addressing financing needs arising from consumption and production activities, and augmenting the well-being and security of individuals, families, and businesses.