X Financial (NYSE:XYF) Trading Up 2.5% – Here’s Why

Shares of X Financial Sponsored ADR (NYSE:XYF) traded up 2.5% during mid-day trading on Wednesday . The company traded as high as $4.85 and last traded at $4.6110. 227,861 shares traded hands during mid-day trading, an increase of 89% from the average session volume of 120,453 shares. The stock had previously closed at $4.50.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of X Financial in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

X Financial Stock Performance

The firm has a fifty day simple moving average of $5.11 and a two-hundred day simple moving average of $8.49. The firm has a market cap of $152.71 million, a PE ratio of 0.77 and a beta of 0.39.

Hedge Funds Weigh In On X Financial

Several institutional investors have recently bought and sold shares of XYF. Jump Financial LLC bought a new stake in shares of X Financial in the 2nd quarter worth about $697,000. Russell Investments Group Ltd. grew its position in X Financial by 468.4% in the third quarter. Russell Investments Group Ltd. now owns 33,780 shares of the company’s stock worth $457,000 after acquiring an additional 27,837 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in X Financial in the fourth quarter worth about $43,000. Finally, BNP Paribas Financial Markets bought a new stake in X Financial during the third quarter worth approximately $105,000. Institutional investors own 1.15% of the company’s stock.

About X Financial

X Financial (NYSE:XYF) is a Beijing-based online credit marketplace focused on providing diversified financing solutions to individuals and small- and medium-sized enterprises (SMEs) in China. The company was established in 2014 and completed its initial public offering on the New York Stock Exchange in 2016. Since inception, X Financial has built a technology-driven platform that connects borrowers with a network of institutional investors, banks and other funding sources, aiming to streamline access to credit and improve lending efficiency.

The company’s core offerings include consumer loans, SME loans, real estate-secured financing and wealth management products.