Yintech Investment Holdings Limited (NASDAQ:YIN) was the target of a large growth in short interest in October. As of October 30th, there was short interest totalling 14,000 shares, a growth of 23.9% from the October 15th total of 11,300 shares. Based on an average daily volume of 17,200 shares, the days-to-cover ratio is currently 0.8 days.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paloma Partners Management Co purchased a new stake in shares of Yintech Investment during the third quarter worth $110,000. State Street Corp boosted its holdings in Yintech Investment by 31.1% during the first quarter. State Street Corp now owns 47,841 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 11,341 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Yintech Investment by 4.5% in the third quarter. BlackRock Inc. now owns 418,923 shares of the financial services provider’s stock valued at $3,016,000 after acquiring an additional 17,933 shares during the last quarter. 0.80% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the stock. BidaskClub raised shares of Yintech Investment from a “sell” rating to a “hold” rating in a report on Tuesday, October 20th. ValuEngine raised shares of Yintech Investment from a “strong sell” rating to a “sell” rating in a research note on Monday, August 3rd.
NASDAQ YIN opened at $7.25 on Friday. Yintech Investment has a one year low of $4.50 and a one year high of $7.29. The company has a market cap of $529.86 million, a P/E ratio of 36.25 and a beta of 0.18. The business has a fifty day moving average price of $7.21 and a 200 day moving average price of $6.59.
Yintech Investment Company Profile
Yintech Investment Holdings Limited, together with its subsidiaries, provides investment and trading services in the People's Republic of China. The company offers spot commodities trading, which is facilitated by individual customers of gold and silver on Shanghai Gold Exchange; and futures commodities trading services to individual customers on silver and other precious metals and commodities on the Shanghai Futures Exchange, Dalian Commodity Exchange, and Zhengzhou Commodity Exchange.
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