X Financial (NYSE:XYF) Trading Up 6.2% - Time to Buy?

X Financial (NYSE:XYF - Get Free Report) was up 6.2% during mid-day trading on Tuesday . The company traded as high as $6.95 and last traded at $6.90. Approximately 38,963 shares were traded during mid-day trading, an increase of 75% from the average daily volume of 22,300 shares. The stock had previously closed at $6.50.

X Financial Stock Performance

The business's 50 day moving average is $6.39 and its 200 day moving average is $5.05. The stock has a market cap of $337.59 million, a price-to-earnings ratio of 1.89 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 - Free Report) by 23.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 56,278 shares of the company's stock after buying an additional 10,684 shares during the period. Acadian Asset Management LLC owned about 0.12% of X Financial worth $237,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 1.15% of the company's stock.

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.