StockNews.com Begins Coverage on Yiren Digital (NYSE:YRD)

StockNews.com initiated coverage on shares of Yiren Digital (NYSE:YRD – Get Rating) in a note issued to investors on Friday. The brokerage set a “buy” rating on the technology company’s stock.

Yiren Digital Trading Down 1.4 %

YRD stock opened at $2.13 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.73 and a current ratio of 4.73. The company has a 50 day moving average price of $2.26 and a 200 day moving average price of $2.21. Yiren Digital has a fifty-two week low of $0.67 and a fifty-two week high of $3.85.

Yiren Digital (NYSE:YRD – Get Rating) last announced its quarterly earnings results on Thursday, March 16th. The technology company reported $0.78 earnings per share (EPS) for the quarter. The firm had revenue of $157.76 million during the quarter.

Hedge Funds Weigh In On Yiren Digital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Yiren Digital by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 854,757 shares of the technology company’s stock worth $2,173,000 after buying an additional 6,293 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Yiren Digital by 34.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 24,289 shares of the technology company’s stock worth $62,000 after buying an additional 6,164 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Yiren Digital during the 3rd quarter worth about $26,000. 1.49% of the stock is owned by institutional investors and hedge funds.

About Yiren Digital

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Yiren Digital Ltd. engages in the easy access to affordable credit and investors with attractive investment opportunities through its online marketplace. It operates through Yiren Wealth and Yiren Credit segments. The Yiren Wealth segment specifically targets the mass affluent investors and provides them with one-stop asset allocation-based wealth management solutions.