X Financial (NYSE:XYF) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of X Financial Sponsored ADR (NYSE:XYF) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $4.96 and traded as high as $5.80. X Financial shares last traded at $5.7270, with a volume of 435,642 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of X Financial from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company currently has an average rating of “Hold”.

X Financial Trading Up 21.9%

The company has a 50-day moving average price of $5.11 and a two-hundred day moving average price of $4.96. The stock has a market capitalization of $223.85 million, a P/E ratio of 2.92 and a beta of 0.47.

X Financial (NYSE:XYF) last announced its quarterly earnings data on Monday, August 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.36. X Financial had a return on equity of 9.14% and a net margin of 9.94%. The company had revenue of $146.24 million for the quarter, compared to the consensus estimate of $145.96 million.

X Financial Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 10th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 10th. This is a decrease from X Financial’s previous dividend of $0.2802. This represents a yield of 1,076.0%. X Financial’s dividend payout ratio is presently 27.55%.

Hedge Funds Weigh In On X Financial

A hedge fund recently bought a new stake in X Financial stock. Ramsey Quantitative Systems purchased a new position in shares of X Financial Sponsored ADR (NYSE:XYF) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 27,838 shares of the company’s stock, valued at approximately $135,000. Ramsey Quantitative Systems owned approximately 0.07% of X Financial as of its most recent filing with the SEC. Institutional investors own 1.15% of the company’s stock.

X Financial Company Profile

X Financial (NYSE: XYF) is a China-based financial technology company that operates an online consumer finance platform. The company uses digital technologies and data-driven credit assessment to provide access to personal financing products and related financial services.

Its primary offerings have included Xiaoying Card, a revolving consumer credit product, and Xiaoying Loan, an installment lending product. X Financial has also operated online wealth-management and investment-related services under the Xiaoying brand, although its business has increasingly focused on consumer lending and loan facilitation.

Founded in 2014 and headquartered in Shenzhen, China, X Financial primarily serves borrowers in mainland China through online and mobile channels.