X Financial Sponsored ADR (NYSE:XYF) Sees Large Decline in Short Interest

X Financial Sponsored ADR (NYSE:XYF) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 133,058 shares, a decline of 15.0% from the February 26th total of 156,503 shares. Based on an average daily volume of 109,083 shares, the short-interest ratio is currently 1.2 days. Approximately 0.5% of the shares of the stock are sold short.

Institutional Trading of X Financial

A number of hedge funds have recently added to or reduced their stakes in XYF. Jump Financial LLC acquired a new position in shares of X Financial during the second quarter worth $697,000. Russell Investments Group Ltd. lifted its stake in shares of X Financial by 468.4% in 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. BNP Paribas Financial Markets acquired a new stake in shares of X Financial during the 3rd quarter valued at $105,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in X Financial during the 4th quarter worth $43,000. Institutional investors and hedge funds own 1.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of X Financial in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, X Financial has an average rating of “Hold”.

X Financial Stock Down 0.4%

X Financial stock opened at $4.11 on Thursday. The stock has a market cap of $171.51 million, a PE ratio of 0.86 and a beta of 0.39. X Financial has a 12-month low of $3.30 and a 12-month high of $20.35. The business’s 50-day moving average price is $4.95 and its two-hundred day moving average price is $8.17.

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.