Yiren Digital (NYSE:YRD) Shares Gap Up – Here’s Why

Yiren Digital Ltd. (NYSE:YRD)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $8.07, but opened at $8.30. Yiren Digital shares last traded at $8.21, with a volume of 31,804 shares.

Yiren Digital Price Performance

The company has a market cap of $601.12 million, a price-to-earnings ratio of 2.36 and a beta of 0.65. The business has a 50 day simple moving average of $6.30 and a 200 day simple moving average of $5.65.

Yiren Digital (NYSE:YRD) last posted its quarterly earnings data on Thursday, March 20th. The technology company reported $0.52 EPS for the quarter. Yiren Digital had a return on equity of 20.85% and a net margin of 32.37%.

Hedge Funds Weigh In On Yiren Digital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AXA S.A. lifted its stake in shares of Yiren Digital by 80.7% during the fourth quarter. AXA S.A. now owns 11,562 shares of the technology company’s stock valued at $55,000 after acquiring an additional 5,165 shares during the period. Two Sigma Investments LP acquired a new position in shares of Yiren Digital during the fourth quarter valued at $61,000. Invesco Ltd. acquired a new position in shares of Yiren Digital during the fourth quarter valued at $71,000. American Century Companies Inc. acquired a new position in shares of Yiren Digital during the fourth quarter valued at $107,000. Finally, XTX Topco Ltd lifted its stake in shares of Yiren Digital by 34.5% during the third quarter. XTX Topco Ltd now owns 20,657 shares of the technology company’s stock valued at $118,000 after acquiring an additional 5,294 shares during the period. Institutional investors and hedge funds 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.