Jiayin Group (NASDAQ:JFIN) Stock Price Up 5.5% – Here’s What Happened

Jiayin Group Inc. (NASDAQ:JFIN) shot up 5.5% on Wednesday . The company traded as high as $12.18 and last traded at $12.38. 40,073 shares were traded during mid-day trading, a decline of 58% from the average session volume of 95,709 shares. The stock had previously closed at $11.74.

Jiayin Group Price Performance

The firm has a market cap of $664.35 million, a P/E ratio of 4.12 and a beta of 0.78. The stock’s 50 day moving average is $9.46 and its two-hundred day moving average is $7.57.

Hedge Funds Weigh In On Jiayin Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC bought a new stake in Jiayin Group in the fourth quarter valued at $174,000. Renaissance Technologies LLC boosted its stake 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 purchasing an additional 1,799 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Jiayin Group in the 4th quarter worth about $109,000. Institutional investors own 44.08% of the company’s stock.

About Jiayin Group

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.