Jiayin Group Inc. Experiences Notable Drop in Short Interest

Jiayin Group Inc. (NASDAQ:JFIN) saw a significant decrease in short interest during February. By the end of the month, as of February 28th, short interest amounted to 53,100 shares, representing a decrease of 36.0% from the total of 83,000 shares reported on February 13th. Currently, only about 0.2% of the company’s shares are sold short. Given an average daily trading volume of 135,500 shares, the short-interest ratio stands at 0.4 days, indicating that short positions can be covered quickly.

Jiayin Group Stock Performance

On Friday, shares of Jiayin Group traded up 20.2%, gaining $1.99 to reach a price of $11.82. A total of 330,531 shares were exchanged, significantly higher than the average trading volume of 91,501 shares. Over the previous periods, the company’s stock has a fifty-day moving average of $8.70 and a two-hundred-day moving average of $7.19. Jiayin Group has experienced a twelve-month low of $4.00, while its high during the same period is $12.00. The company currently boasts a market capitalization of approximately $634.56 million, with a price-to-earnings ratio of 3.94 and a beta of 0.78, reflecting its volatility compared to the market.

Changes in Institutional Holdings

Recent moves by institutional investors and hedge funds have influenced Jiayin Group's stock. During the fourth quarter, XTX Topco Ltd initiated a position in the company worth about $109,000. Additionally, Renaissance Technologies LLC increased its stake by 10.3%, now holding 19,291 shares valued at $123,000 after acquiring an extra 1,799 shares during the last quarter. Likewise, LPL Financial LLC also took a new stake worth around $174,000 in Jiayin Group. Overall, institutional investors and hedge funds own about 44.08% of the company's shares, reflecting strong institutional interest in the stock.

About Jiayin Group

Jiayin Group Inc. is a fintech company that provides online consumer finance services in the People's Republic of China. Through its platform, Jiayin Group connects individual borrowers with financial institutions. The company also offers referral services for investment products provided by financial service operators, in addition to technology development and guarantee services.

Jiayin, Short, Interest