Yirendai (NYSE:YRD) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Yirendai Ltd. (NYSE:YRD)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.80 and traded as low as $0.99. Yirendai shares last traded at $1.0070, with a volume of 43,697 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Yirendai in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Yirendai Stock Performance

The stock’s 50 day moving average price is $1.17 and its 200-day moving average price is $1.78. The company has a market cap of $85.48 million, a PE ratio of -0.83 and a beta of 1.14.

Yirendai (NYSE:YRD) last posted its quarterly earnings results on Friday, June 26th. The technology company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($1.20). The firm had revenue of $132.73 million for the quarter, compared to the consensus estimate of $237.43 million. Yirendai had a negative net margin of 14.35% and a negative return on equity of 7.58%.

Yirendai declared that its Board of Directors has authorized a share buyback plan on Thursday, July 2nd that allows the company to buyback $0.00 in shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Yirendai

A number of hedge funds have recently bought and sold shares of the company. Arete Wealth Advisors LLC purchased a new position in Yirendai in the 4th quarter worth approximately $37,000. GSA Capital Partners LLP raised its position in Yirendai by 10.3% in the 2nd quarter. GSA Capital Partners LLP now owns 100,741 shares of the technology company’s stock worth $84,000 after buying an additional 9,391 shares during the last quarter. Ramsey Quantitative Systems bought a new position in Yirendai during the 2nd quarter valued at about $110,000. American Century Companies Inc. lifted its position in Yirendai by 35.7% during the second quarter. American Century Companies Inc. now owns 23,799 shares of the technology company’s stock valued at $140,000 after purchasing an additional 6,261 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of Yirendai by 5,362.0% in the 3rd quarter. Raymond James Financial Inc. now owns 27,310 shares of the technology company’s stock worth $162,000 after buying an additional 26,810 shares during the last quarter. Institutional investors own 1.99% of the company’s stock.

Yirendai Company Profile

Yirendai Ltd is a leading fintech credit marketplace in China, offering consumer financing solutions through a digital platform. As a subsidiary of CreditEase, one of the country’s earliest peer-to-peer lending pioneers, Yirendai facilitates connections between individual borrowers and institutional or retail investors. The company’s integrated platform handles borrower screening, credit assessment, risk management and loan servicing to deliver a streamlined, transparent lending experience.

The company provides unsecured personal loans for purposes such as debt consolidation, home improvement and small business investment.