X Financial (NYSE:XYF) Trading Down 0.6% – Here’s What Happened

X Financial Sponsored ADR (NYSE:XYF) shares dropped 0.6% on Wednesday . The stock traded as low as $4.98 and last traded at $5.08. Approximately 54,122 shares were traded during trading, a decline of 73% from the average daily volume of 197,457 shares. The stock had previously closed at $5.11.

Analyst Ratings Changes

Several equities research analysts have commented on XYF shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of X Financial in a research note on Monday, December 29th. Wall Street Zen lowered X Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

X Financial Stock Performance

The company has a market cap of $212.24 million, a PE ratio of 0.90 and a beta of 0.46. The firm’s 50 day moving average is $5.66 and its 200-day moving average is $9.88.

Hedge Funds Weigh In On X Financial

A number of institutional investors have recently added to or reduced their stakes in XYF. Police & Firemen s Retirement System of New Jersey acquired a new position in X Financial during the fourth quarter worth $43,000. BNP Paribas Financial Markets purchased a new position in shares of X Financial during the 3rd quarter worth $105,000. Russell Investments Group Ltd. boosted its position in shares of X Financial by 468.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 33,780 shares of the company’s stock valued at $457,000 after acquiring an additional 27,837 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of X Financial during the 2nd quarter valued at about $697,000. Hedge funds and other institutional investors own 1.15% of the company’s stock.

About X Financial

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.