X Financial (NYSE:XYF) Trading 6.2% Higher – What’s Next?

X Financial (NYSE:XYF)’s share price traded up 6.2% on Tuesday . The stock traded as high as $6.95 and last traded at $6.90. 38,963 shares changed hands during mid-day trading, an increase of 75% from the average session volume of 22,300 shares. The stock had previously closed at $6.50.

X Financial Price Performance

The firm’s 50 day simple moving average is $6.48 and its two-hundred day simple moving average is $5.09. The firm has a market capitalization of $355.23 million, a P/E ratio of 1.92 and a beta of 0.31.

Hedge Funds Weigh In On X Financial

An institutional investor recently raised its position in X Financial stock. Acadian Asset Management LLC raised its position in X Financial (NYSE:XYF) by 23.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,278 shares of the company’s stock after acquiring an additional 10,684 shares during the quarter. Acadian Asset Management LLC owned approximately 0.12% of X Financial worth $237,000 at the end of the most recent quarter. 1.15% of the stock is currently owned by hedge funds and other institutional investors.

X Financial Company Profile

X Financial provides personal finance services in the People’s Republic of China. The company offers services as an online marketplace connecting borrowers and investors or institutional funding partners. Its loan products include Xiaoying credit loan, which consists of Xiaoying card loan; and Xiaoying preferred loan to small business owners.