Yintech Investment (NASDAQ:YIN) Trading Up 11%

Yintech Investment Holdings Ltd – (NASDAQ:YIN) shares were up 11% during trading on Wednesday . The stock traded as high as $6.87 and last traded at $6.55, approximately 111,912 shares changed hands during trading. An increase of 263% from the average daily volume of 30,865 shares. The stock had previously closed at $5.90.

Several research analysts have commented on YIN shares. BidaskClub downgraded shares of Yintech Investment from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. ValuEngine raised shares of Yintech Investment from a “hold” rating to a “buy” rating in a report on Monday, October 21st.

The firm’s fifty day simple moving average is $5.85 and its 200 day simple moving average is $5.15. The firm has a market cap of $432.15 million, a P/E ratio of -4.62 and a beta of 0.44.

Yintech Investment (NASDAQ:YIN) last released its quarterly earnings data on Monday, December 2nd. The financial services provider reported $0.20 EPS for the quarter. The company had revenue of $71.46 million for the quarter.

A hedge fund recently raised its stake in Yintech Investment stock. BlackRock Inc. raised its stake in shares of Yintech Investment Holdings Ltd – (NASDAQ:YIN) by 13.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 319,553 shares of the financial services provider’s stock after purchasing an additional 36,727 shares during the period. BlackRock Inc. owned 0.45% of Yintech Investment worth $1,501,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 0.81% of the company’s stock.

About Yintech Investment (NASDAQ:YIN)

Yintech Investment Holdings Limited, together with its subsidiaries, provides trading and investment services for online spot commodity trading in the People's Republic of China. The company facilitates the trading by individual customers of gold, silver, and other precious metals and commodities on three exchanges, Shanghai Gold Exchange, Tianjin Precious Metals Exchange, and Guangdong Precious Metals Exchange in China.

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