Yintech Investment (YIN) Stock Rating Lowered by Zacks Investment Research

Yintech Investment (NASDAQ:YIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

According to Zacks, “Yintech Investment Holdings Limited is an online provider of spot commodity trading services primarily in China. The Company provides services which includes account opening, investor education, market information, research, live discussion boards and real-time customer support. It facilitates the trading by individual customers of silver, gold and other precious metals and commodities on exchanges, Shanghai Gold Exchange, Tianjin Precious Metals Exchange and Guangdong Precious Metals Exchange. Yintech Investment Holdings Limited is headquartered in Shanghai, China. “

A number of other equities analysts have also recently weighed in on YIN. Jefferies Group reaffirmed a “buy” rating and set a $15.00 price target on shares of Yintech Investment in a research note on Thursday, August 31st. BidaskClub raised shares of Yintech Investment from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 28th.

Yintech Investment (YIN) opened at $9.34 on Thursday. Yintech Investment has a 12 month low of $8.53 and a 12 month high of $22.97. The firm has a market cap of $649.35, a price-to-earnings ratio of 5.09, a PEG ratio of -1.25 and a beta of -1.18.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its holdings in Yintech Investment by 69.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 342,694 shares of the financial services provider’s stock valued at $3,427,000 after purchasing an additional 140,329 shares in the last quarter. FDx Advisors Inc. lifted its holdings in Yintech Investment by 56.7% in the 3rd quarter. FDx Advisors Inc. now owns 23,808 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 8,610 shares in the last quarter. Globeflex Capital L P purchased a new position in shares of Yintech Investment during the 2nd quarter worth about $176,000. Finally, Visionary Asset Management Inc. purchased a new position in shares of Yintech Investment during the 3rd quarter worth about $114,000. 1.33% of the stock is currently owned by hedge funds and other institutional investors.

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Yintech Investment Company Profile

Yintech Investment Holdings Limited is an online provider of spot commodity trading services in China. The Company facilitates the trading by individual customers of silver, gold, and other precious metals and commodities on the Shanghai Gold Exchange, the Tianjin Precious Metals Exchange and the Guangdong Precious Metals Exchange.

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