The short-term stake in Yiren Digital Ltd. (NYSE:YRD) declines 15.6%

Yiren Digital Ltd. (NYSE: YRD- Get a rating) was the target of a significant drop in short interest in the month of February. As of February 15, there was short interest totaling 181,500 shares, a decrease of 15.6% from the total of 215,100 shares as of January 31. Based on an average trading volume of 60,800 shares, the day-to-cover ratio is currently 3.0 days.

Separately, launched a hedge on Yiren Digital shares in a Wednesday, March 2 research note. They set a “Strong Buy” rating on the stock.

NYSE YRD opened at $2.45 on Tuesday. Yiren Digital has a 12-month low of $2.25 and a 12-month high of $6.60. The company has a quick ratio of 3.92, a current ratio of 3.92 and a leverage ratio of 0.23. The company has a market capitalization of $205.75 million, a price-earnings ratio of 9.42 and a beta of 0.53. The company’s 50-day moving average is $2.72.

Several hedge funds and other institutional investors have recently bought and sold shares of YRD. Envestnet Asset Management Inc. acquired a new stake in Yiren Digital during the fourth quarter for a value of approximately $52,000. MARSHALL WACE ASIA Ltd acquired a new stake in Yiren Digital during the third quarter for a value of approximately $62,000. State Street Corp bought a new stake in Yiren Digital during the second quarter worth about $64,000. BlackRock Inc. increased its stake in Yiren Digital by 22.5% during the third quarter. BlackRock Inc. now owns 37,086 shares of the technology company worth $112,000 after buying 6,819 additional shares last quarter. Finally, Connor Clark & ​​Lunn Investment Management Ltd. acquired a new stake in Yiren Digital during the third quarter worth approximately $141,000. Institutional investors and hedge funds hold 2.01% of the company’s shares.

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About Yiren Digital (Get a rating)

Yiren Digital Ltd. is committed to facilitating access to affordable credit and investors offering attractive investment opportunities through its online marketplace. It operates through Yiren Wealth and Yiren Credit segments. The Yiren Wealth segment specifically targets affluent investors and provides them with unique wealth management solutions based on asset allocation.

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