The stock of Jiayin Group Inc. (NASDAQ:JFIN) is now priced at $4.19 and the shares are 0.31 points up or 7.99% higher compared to its previous closing price of $3.88. The stock had 1.77 million contracts set over the past session. JFIN shares’ daily volume is compared to its average trading volume at 1.606 million shares. However, it has a float of 25.03 million and although its performance was 5.28% over the week, it’s one to watch. JFIN share price recently placing at $3.9 to $4.6.
The shorts are climbing into the Jiayin Group Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the JFIN shares have risen. Short interest in the stock represents just 0.31% of its float, but the volume has raised by 51043. The volume of shorted shares rised to 76628 from 25585 shares over the last two weeks. The average intraday trading volume has been 5.369 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Jiayin Group Inc. (NASDAQ:JFIN) raised by $0.21 over the week and gained $1.94 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $30. The stock recorded its established 52-week high on 06/10/20.
Since 03/12/20, the stock has traded to a low of $1.6 at 161.87%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Jiayin Group Inc.’s two-week RSI is 54.48. This suggests that the stock is neutral at the moment and that JFIN shares’ price movement remains stable. The stochastic readings are equally revealing at 10.04% meaning the JFIN share price is currently in overbought territory.
The technical chart shows that the JFIN stock will likely settle at between $4.56 and $4.93 per share. However, if the stock dips below $3.86, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.53.
Currently, the stock is trading in the red of MACD, with a reading of -0.08. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at ROTH Capital cut their recommendation for JFIN from Buy to Neutral in April 02 review. ROTH Capital analysts see the stock as a Buy with a target price of $ in a flash note released to investors on August 27 initiating covering the stock.
The average rating for the JFIN equity is 3 and is currently gathering a bullish momentum. Of 1 analysts tracking Jiayin Group Inc. polled by Reuters, 1 rated JFIN as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the JFIN stocks P/S ratio currently stands at 5.1below the group’s average of 37.7. Jiayin Group Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 5.5 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Jiayin Group Inc. (NASDAQ:JFIN) will decrease by about -99.31%, which will see them reach $310 million. The company’s full-year revenues are, however, expected to increase by about 434.49%, up from $312.45 million to $1670 million. JFIN’s expected adjusted earnings should surge almost 28.26% to end up at $0.59 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 290.78% to record $5.51/share.