Jiayin Group (NASDAQ:JFIN) Shares Up 9.9% – Here’s Why

Jiayin Group Inc. (NASDAQ:JFIN)’s share price shot up 9.9% during mid-day trading on Friday . The stock traded as high as $17.17 and last traded at $17.67. 161,178 shares were traded during trading, an increase of 30% from the average session volume of 123,578 shares. The stock had previously closed at $16.08.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Jiayin Group from a “hold” rating to a “strong-buy” rating in a research report on Friday.

Jiayin Group Stock Performance

The company has a fifty day simple moving average of $12.34 and a two-hundred day simple moving average of $9.80. The company has a market capitalization of $970.80 million, a price-to-earnings ratio of 6.06 and a beta of 1.02.

Jiayin Group (NASDAQ:JFIN) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.40 earnings per share for the quarter. The company had revenue of $244.68 million during the quarter. Jiayin Group had a return on equity of 43.90% and a net margin of 19.17%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Nomura Holdings Inc. purchased a new stake in shares of Jiayin Group during the 1st quarter valued at $638,000. LPL Financial LLC purchased a new stake in shares of Jiayin Group during the 4th quarter valued at $174,000. Renaissance Technologies LLC grew its stake in shares of Jiayin Group by 10.3% during 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. XTX Topco Ltd purchased a new stake in shares of Jiayin Group during the 4th quarter valued at $109,000. Finally, Virtu Financial LLC purchased a new stake in shares of Jiayin Group during the 1st quarter valued at $180,000. 44.08% of the stock is currently owned by institutional investors and hedge funds.

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.