BidaskClub downgraded shares of Yintech Investment (NASDAQ:YIN) from a buy rating to a hold rating in a report released on Wednesday morning, BidAskClub reports.

NASDAQ YIN opened at $5.01 on Wednesday. The firm’s fifty day moving average price is $5.13 and its 200 day moving average price is $5.29. Yintech Investment has a 12 month low of $3.66 and a 12 month high of $7.50.

Yintech Investment (NASDAQ:YIN) last posted its earnings results on Friday, August 30th. The financial services provider reported ($0.10) EPS for the quarter. The company had revenue of $42.11 million during the quarter. Yintech Investment had a negative net margin of 58.11% and a negative return on equity of 4.44%.

An institutional investor recently raised its position in Yintech Investment stock. BlackRock Inc. grew its position in Yintech Investment Holdings Ltd – (NASDAQ:YIN) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 319,553 shares of the financial services provider’s stock after acquiring an additional 36,727 shares during the period. BlackRock Inc. owned about 0.45% of Yintech Investment worth $1,501,000 at the end of the most recent quarter. 0.77% of the stock is currently owned by institutional investors and hedge funds.

Yintech Investment Company Profile

Yintech Investment Holdings Limited, together with its subsidiaries, provides trading and investment services for online spot commodity trading in the People's Republic of China. The company facilitates the trading by individual customers of gold, silver, and other precious metals and commodities on three exchanges, Shanghai Gold Exchange, Tianjin Precious Metals Exchange, and Guangdong Precious Metals Exchange in China.

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