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X Financial shares close higher on Tuesday, personal finance company appoints new President

X Financial (XYF) said earlier this week that it had appointed Shaoyong (Simon) Cheng as the Vice Chairman of the Board of Directors. Cheng has stepped down as President of the company and has been succeeded by Kan (Kent) Li, effective May 24th.

Shaoyong (Simon) Cheng became part of X Financial’s team in 2015 and has served as the company’s Director since December 2017. Cheng has also served as X Financial’s President since October 2017. Prior to his appointment as President, Cheng was the company’s Chief Risk Officer between 2015 and 2017.

Kan (Kent) Li became part of X Financial’s team also in 2015 and has served as the company’s Chief Risk Officer since November 2017. Prior to that engagement, Li was a division director in charge of unsecured loan risk from 2015 to 2017.

The shares of X Financial closed higher for a fourth consecutive trading session in New York on Tuesday. The stock went up 4.49% ($0.22) to $5.12, after touching an intraday high at $5.14. The latter has been a price level not seen since April 28th ($5.30).

Shares of X Financial have risen 156.00% so far this year, following an 18.34% gain in 2020.

Analyst stock price forecast and recommendation

According to CNN Money, at least 1 out of 1 surveyed investment analyst had rated X Financial’s stock as “Hold”. The median price target on the stock stands at $5.10.

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