An interesting stock that came up in some of our conversations today is Jiayin Group Inc. (NASDAQ:JFIN). At current price of $3.09, the shares have already added 0.48 points (18.39% higher) from its previous close of $2.61. Should you buy or avoid them? The stock sets an active trading volume day with a reported 103893 contracts so far this session. JFIN shares had a relatively better volume day versus average trading capacity of 33.76 million shares, but with a 3.5 million float and a 20.28% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for JFIN stock indicates that the average analyst price target is $84.55 per share. This means the stock has a potential increase of 2636.25% from where the JFIN share price has been trading recently.
Looking at the current readings for Jiayin Group Inc., the two-week RSI stands at 52.1. This figure suggests that JFIN 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 JFIN readings is similarly very revealing as it has a stochastic reading of 20.88% at this stage. This figure means that JFIN share price today is being overbought.
Technical chart claims that Jiayin Group Inc. (JFIN) would settle between $4.18/share to $5.76/share level. However, if the stock price goes below the $1.79 mark, then the market for Jiayin Group Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.98 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.53. 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 ROTH Capital, assumed coverage of JFIN assigning Buy rating, according to their opinion released on August 27.
JFIN equity has an average rating of 2, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Jiayin Group Inc. (NASDAQ:JFIN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, JFIN stock price is currently trading at 2.22X forward 12-month Consensus EPS estimates, and its P/E ratio is 1.6 while for the average stock in the same group, the multiple is 26.7. Jiayin Group Inc. current P/B ratio of 0 means it is trading at a discount against its industry’s 4.