X Financial (NYSE:XYF) Trading 0.3% Higher – Here’s Why

X Financial Sponsored ADR (NYSE:XYF) shot up 0.3% on Thursday . The company traded as high as $5.08 and last traded at $5.0250. Approximately 31,211 shares changed hands during trading, a decline of 34% from the average session volume of 47,382 shares. The stock had previously closed at $5.01.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded X Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

X Financial Trading Down 1.7%

The firm’s 50-day moving average price is $4.84 and its two-hundred day moving average price is $4.91. The stock has a market cap of $192.95 million, a PE ratio of 1.43 and a beta of 0.41.

Institutional Trading of X Financial

A number of hedge funds have recently bought and sold shares of the stock. Jump Financial LLC purchased a new position in shares of X Financial in the 2nd quarter valued at $697,000. Ramsey Quantitative Systems bought a new stake in X Financial during the second quarter valued at about $135,000. Russell Investments Group Ltd. grew its stake in X Financial by 468.4% in the third quarter. Russell Investments Group Ltd. now owns 33,780 shares of the company’s stock valued at $457,000 after purchasing an additional 27,837 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in X Financial in the fourth quarter worth about $43,000. Finally, BNP Paribas Financial Markets bought a new position in X Financial in the third quarter worth about $105,000. Hedge funds and other institutional investors own 1.15% of the company’s stock.

X Financial Company Profile

X Financial (NYSE:XYF) is a Beijing-based online credit marketplace focused on providing diversified financing solutions to individuals and small- and medium-sized enterprises (SMEs) in China. The company was established in 2014 and completed its initial public offering on the New York Stock Exchange in 2016. Since inception, X Financial has built a technology-driven platform that connects borrowers with a network of institutional investors, banks and other funding sources, aiming to streamline access to credit and improve lending efficiency.

The company’s core offerings include consumer loans, SME loans, real estate-secured financing and wealth management products.