Yintech Investment (NASDAQ:YIN) Downgraded by BidaskClub

BidaskClub lowered shares of Yintech Investment (NASDAQ:YIN) from a buy rating to a hold rating in a report issued on Wednesday, BidAskClub reports.

YIN opened at $5.01 on Wednesday. The company’s 50 day simple moving average is $5.13 and its 200 day simple moving average is $5.29. Yintech Investment has a 1 year low of $3.66 and a 1 year high of $7.50.

Yintech Investment (NASDAQ:YIN) last released its earnings results on Friday, August 30th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter. Yintech Investment had a negative return on equity of 4.44% and a negative net margin of 58.11%. The company had revenue of $42.11 million during the quarter.

A hedge fund recently raised its stake in Yintech Investment stock. BlackRock Inc. grew its position in shares of Yintech Investment Holdings Ltd – (NASDAQ:YIN) by 13.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 319,553 shares of the financial services provider’s stock after purchasing an additional 36,727 shares during the period. BlackRock Inc. owned approximately 0.45% of Yintech Investment worth $1,501,000 as of its most recent SEC filing. 0.77% of the stock is owned by hedge funds and other institutional investors.

Yintech Investment Company Profile

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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