Yirendai Ltd. (NYSE:YRD) Shares Shorted: Short Interest Up 1,932.2% in October

Yirendai Ltd. (NYSE:YRD) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totaling 2,563,242 shares, a growth of 1,932.2% from the September 30th total of 126,131 shares. Currently, 5.1% of the shares of the stock are short sold. Based on an average daily volume of 12,592,145 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued 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. According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Yirendai Price Performance

Shares of YRD stock traded down $0.09 on Monday, hitting $0.58. The stock had a trading volume of 204,895 shares, compared to its average volume of 7,079,442. The company’s 50 day moving average price is $0.95 and its 200-day moving average price is $1.95. Yirendai has a 1 year low of $0.36 and a 1 year high of $6.08.

Yirendai (NYSE:YRD) last released its earnings results on Wednesday, September 30th. The technology company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($1.13). The business had revenue of $131.00 million for the quarter, compared to analyst estimates of $237.57 million. Yirendai had a negative return on equity of 17.30% and a negative net margin of 35.36%.

Yirendai announced that its board has initiated a stock buyback program on Thursday, July 2nd that permits the company to repurchase shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Share buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP increased its holdings in shares of Yirendai by 10.3% in the 2nd quarter. GSA Capital Partners LLP now owns 100,741 shares of the technology company’s stock valued at $84,000 after acquiring an additional 9,391 shares during the period. Ramsey Quantitative Systems acquired a new position in Yirendai in the 2nd quarter valued at $110,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Yirendai by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,116,961 shares of the technology company’s stock worth $1,917,000 after acquiring an additional 33,490 shares during the period. 1.99% of the stock is owned by hedge funds and other institutional investors.

About Yirendai

Yirendai, now known as Yiren Digital Limited, is a China-based fintech company that provides digital financial services. The company operates an online platform focused primarily on consumer finance, helping individual borrowers access credit and providing related financial products and services through digital channels.

Founded in 2012 as a subsidiary of CreditEase, Yirendai was among the early Chinese online lending platforms to access international public markets. In response to regulatory changes affecting China’s peer-to-peer lending industry, the company broadened its business beyond its original online lending marketplace and developed additional consumer finance and wealth management offerings.

Yiren Digital primarily serves customers in mainland China.