Jiayin Group (NASDAQ:JFIN) Shares Gap Up – Here’s Why

Shares of Jiayin Group Inc. (NASDAQ:JFIN) gapped up before the market opened on Wednesday . The stock had previously closed at $9.28, but opened at $9.50. Jiayin Group shares last traded at $9.63, with a volume of 67,817 shares traded.

Jiayin Group Stock Up 0.2 %

The business’s 50-day simple moving average is $7.23 and its two-hundred day simple moving average is $6.55. The firm has a market capitalization of $534.22 million, a price-to-earnings ratio of 3.32 and a beta of 0.89.

Hedge Funds Weigh In On Jiayin Group

A number of hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Jiayin Group during the fourth quarter worth $109,000. Renaissance Technologies LLC raised its holdings in shares of Jiayin Group by 10.3% in the 4th quarter. Renaissance Technologies LLC now owns 19,291 shares of the company’s stock valued at $123,000 after buying an additional 1,799 shares during the period. Finally, LPL Financial LLC acquired a new position in Jiayin Group during the 4th quarter worth about $174,000. Hedge funds and other institutional investors own 44.08% of the company’s stock.

Jiayin Group Company Profile

Jiayin Group Inc, together with its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates a fintech platform that facilitates connections between individual borrowers and financial institutions. It also offers referral services for investment products offered by the financial service providers; and technology development and services, as well as guarantee services.