Yintech Investment (NASDAQ:YIN) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Yintech Investment (NASDAQ:YIN) from a sell rating to a hold rating in a research note issued to investors on Friday, BidAskClub reports.

NASDAQ:YIN traded down $0.22 during mid-day trading on Friday, hitting $4.73. 2,409 shares of the company’s stock traded hands, compared to its average volume of 39,815. The business has a 50 day simple moving average of $4.49. Yintech Investment has a 1 year low of $3.66 and a 1 year high of $8.00.

Yintech Investment (NASDAQ:YIN) last released its quarterly earnings results on Friday, May 31st. The financial services provider reported $0.15 earnings per share (EPS) for the quarter. Yintech Investment had a negative net margin of 58.14% and a negative return on equity of 3.80%. The company had revenue of $67.19 million for the quarter.

A hedge fund recently raised its stake in Yintech Investment stock. BlackRock Inc. raised its position in Yintech Investment Holdings Ltd – (NASDAQ:YIN) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,338 shares of the financial services provider’s stock after purchasing an additional 10,805 shares during the quarter. BlackRock Inc. owned about 0.16% of Yintech Investment worth $686,000 as of its most recent SEC filing. Institutional investors own 0.80% of the company’s stock.

About Yintech Investment

Yintech Investment Holdings Limited, together with its subsidiaries, provides trading and investment services for online spot commodity trading in the People's Republic of China. The company facilitates the trading by individual customers of gold, silver, and other precious metals and commodities on three exchanges, Shanghai Gold Exchange, Tianjin Precious Metals Exchange, and Guangdong Precious Metals Exchange in China.

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