Jiayin Group (NASDAQ:JFIN) Sets New 52-Week High – Here’s Why

Jiayin Group Inc. (NASDAQ:JFIN)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $10.50 and last traded at $10.17, with a volume of 75763 shares trading hands. The stock had previously closed at $9.95.

Jiayin Group Stock Up 1.1 %

The business has a 50 day simple moving average of $7.31 and a 200 day simple moving average of $6.58. The company has a market capitalization of $540.12 million, a PE ratio of 3.35 and a beta of 0.89.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in shares of Jiayin Group by 10.3% in the fourth quarter. Renaissance Technologies LLC now owns 19,291 shares of the company’s stock worth $123,000 after purchasing an additional 1,799 shares during the last quarter. LPL Financial LLC purchased a new position in shares of Jiayin Group in the fourth quarter worth about $174,000. Finally, XTX Topco Ltd purchased a new position in shares of Jiayin Group in the fourth quarter worth about $109,000. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

About Jiayin Group

Jiayin Group Inc, together with its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates a fintech platform that facilitates connections between individual borrowers and financial institutions. It also offers referral services for investment products offered by the financial service providers; and technology development and services, as well as guarantee services.