Top 5 Undervalued Tech Stocks

2. Jiayin Group Inc. (NASDAQ: JFIN)

Number of Hedge Fund Holders: 3

Jiayin Group Inc. (NASDAQ: JFIN) is a Shanghai-based online financial marketplace. The marketplace connects individual investors and individual borrowers in China. The firm manages the connections by offering a secure, open and transparent platform for fast business transactions. It was founded in 2011. The company has a market cap of more than $300 million and posted more than $200 million in annual revenue in December 2020. 

On March 22, the stock of the firm jumped 36% after posts on social media by financial advisors claimed that the firm was undervalued. On April 5, the firm announced that it had entered into an agreement to acquire equity interests in Shanghai Bweenet Network Technology, a limited liability company based in China. At the end of the fourth quarter of 2020, 3 hedge funds in the database of Insider Monkey held stakes worth $442,000 in the firm, up from 1 in the preceding quarter worth $34,000.