Jiayin Group (NASDAQ:JFIN) Trading 2.3% Higher – Here’s Why

Jiayin Group Inc. Sponsored ADR (NASDAQ:JFIN) shares shot up 2.3% during mid-day trading on Friday . The company traded as high as $9.03 and last traded at $9.02. 39,636 shares changed hands during trading, a decline of 53% from the average session volume of 84,898 shares. The stock had previously closed at $8.82.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Jiayin Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

Jiayin Group Stock Up 2.3%

The firm has a market cap of $481.40 million, a price-to-earnings ratio of 2.15 and a beta of 0.80. The firm has a 50 day moving average of $10.49 and a 200 day moving average of $13.14.

Jiayin Group (NASDAQ:JFIN) last issued its quarterly earnings results on Wednesday, August 20th. The company reported $1.36 earnings per share (EPS) for the quarter. The firm had revenue of $263.30 million for the quarter. Jiayin Group had a return on equity of 47.37% and a net margin of 24.60%.

Institutional Investors Weigh In On Jiayin Group

Large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of Jiayin Group during the 2nd quarter worth about $63,000. Allworth Financial LP raised its stake in Jiayin Group by 14,985.7% during the 2nd quarter. Allworth Financial LP now owns 4,224 shares of the company’s stock worth $68,000 after buying an additional 4,196 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in Jiayin Group in the second quarter worth approximately $100,000. Invesco Ltd. acquired a new stake in Jiayin Group in the first quarter valued at approximately $168,000. Finally, Jump Financial LLC bought a new stake in shares of Jiayin Group during the first quarter valued at approximately $169,000. 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.