Yong Rong HK Asset Management Ltd Makes New Investment in Yunji Inc (NASDAQ:YJ)

Yong Rong HK Asset Management Ltd purchased a new position in shares of Yunji Inc (NASDAQ:YJ) in the second quarter, HoldingsChannel reports. The fund purchased 1,980,000 shares of the company’s stock, valued at approximately $22,374,000. Yunji comprises about 32.2% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its largest holding.

Separately, Picton Mahoney Asset Management acquired a new stake in shares of Yunji in the 2nd quarter valued at approximately $396,000. Institutional investors and hedge funds own 6.25% of the company’s stock.

YJ traded up $0.29 during trading hours on Thursday, reaching $9.55. The company’s stock had a trading volume of 700 shares, compared to its average volume of 22,901. Yunji Inc has a 52 week low of $8.95 and a 52 week high of $18.20. The company’s 50-day simple moving average is $10.57.

Yunji (NASDAQ:YJ) last posted its quarterly earnings results on Tuesday, June 4th. The company reported ($0.14) earnings per share for the quarter. The company had revenue of $502.79 million during the quarter. Analysts predict that Yunji Inc will post -0.1 earnings per share for the current year.

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Yunji in a report on Thursday, June 13th. They issued an “overweight” rating and a $14.00 price objective for the company. Credit Suisse Group assumed coverage on Yunji in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $14.50 price objective for the company. Finally, Morgan Stanley assumed coverage on Yunji in a report on Tuesday, May 28th. They issued an “overweight” rating and a $14.70 price objective for the company.

Yunji Profile

Yunji Inc operates a social e-commerce platform in the People's Republic of China. It offers a range of product categories that cater various daily needs of users and their households, including beauty and personal care, household goods, food and fresh produce, computer and electronics, apparel, bags and cases, baby and maternity products, and home appliances.

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