Big changes are happening at Yiren Digital Ltd. (NYSE:YRD), which makes the stock worth watching today. The company is among the top gainers of the stock market today, skyrocketing 2.66% or (0.18 points) to $6.94 from its previous close of $6.76. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 144173 contracts so far this session. YRD shares had a relatively better volume day versus average trading capacity of 244.72 thousand shares, but with a 15.27 million float and a 16.96% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for YRD stock indicates that the average analyst price target is $9.73 per share. This means the stock has a potential increase of 40.2% from where the YRD share price has been trading recently.
During the recent trading session for Yiren Digital Ltd. (NYSE:YRD), the company witnessed their stock rise $0.95 over a week and surge $2.4 from the price 20 days ago. When compared to their established 52-week high of $17.44, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 05/22/19. The recent low of $4.4 stood for a -60.21% since 04/12/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.55 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Yiren Digital Ltd., the two-week RSI stands at 66.46. This figure suggests that YRD stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current YRD readings is similarly very revealing as it has a stochastic reading of 80.66% at this stage. This figure means that YRD share price today is being oversold.
Technical chart claims that Yiren Digital Ltd. (YRD) would settle between $6.95/share to $7.14/share level. However, if the stock price goes below the $6.59 mark, then the market for Yiren Digital Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $6.42 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.51. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Credit Suisse, assumed coverage of YRD assigning Neutral rating, according to their opinion released on October 09. Citigroup analysts have lowered their rating of Yiren Digital Ltd. (NYSE:YRD) stock from Neutral to Sell in a separate flash note issued to investors on October 03. Analysts at Macquarie lowered the stock to a Underperform call from its previous Neutral recommendation, in a research note that dated back to September 05.
YRD equity has an average rating of 3.54, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 0 analysts rated Yiren Digital Ltd. (NYSE:YRD) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, YRD stock price is currently trading at 2.87X forward 12-month Consensus EPS estimates, and its P/E ratio is 2.7 while for the average stock in the same group, the multiple is 22.4. Yiren Digital Ltd. current P/B ratio of 1.5 means it is trading at a discount against its industry’s 5.
Yiren Digital Ltd. (YRD)’s current-quarter revenues are projected to climb by nearly 51.3% to hit $278310, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 46.9% from $813880 to a noteworthy $1.2 billion. At the other end of the current quarter income statement, Yiren Digital Ltd. is expected to see its adjusted earnings surge by roughly -23.4% to hit $0.59 per share. For the fiscal year, YRD’s earnings are projected to climb by roughly -9.8% to hit $2.03 per share.