Yirendai Ltd – (NYSE:YRD) shares shot up 7.3% during mid-day trading on Monday . The stock traded as high as $44.10 and last traded at $43.64. 1,007,375 shares changed hands during mid-day trading, an increase of 104% from the average session volume of 493,422 shares. The stock had previously closed at $40.68.
Several brokerages recently issued reports on YRD. Macquarie began coverage on Yirendai in a research note on Tuesday, November 14th. They issued an “outperform” rating and a $60.00 price objective on the stock. TheStreet raised Yirendai from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Citigroup began coverage on Yirendai in a research note on Tuesday, November 14th. They issued a “buy” rating on the stock. Needham & Company LLC increased their price objective on Yirendai from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, Zacks Investment Research raised Yirendai from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $52.00.
The company has a market cap of $2,610.00 and a PE ratio of 12.87.
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Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.
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