Qudian Inc – (NYSE:QD)’s stock price traded down 12.8% during mid-day trading on Wednesday . The stock traded as low as $7.33 and last traded at $7.38. 18,298,910 shares were traded during mid-day trading, an increase of 259% from the average session volume of 5,093,726 shares. The stock had previously closed at $8.46.
Several brokerages recently weighed in on QD. TheStreet raised Qudian from a “d+” rating to a “c-” rating in a research note on Thursday, April 18th. Morgan Stanley raised Qudian from an “equal weight” rating to an “overweight” rating and set a $7.00 target price for the company in a research note on Monday, April 8th. Zacks Investment Research cut Qudian from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 11th. China Renaissance Securities reaffirmed a “hold” rating and set a $8.00 target price on shares of Qudian in a research note on Tuesday, May 14th. Finally, Nomura reaffirmed a “neutral” rating on shares of Qudian in a research note on Wednesday, February 27th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.85.
The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 6.53 and a beta of 1.57. The firm’s 50-day simple moving average is $7.31.
Several large investors have recently added to or reduced their stakes in the stock. Stevens Capital Management LP boosted its position in shares of Qudian by 6.7% in the 1st quarter. Stevens Capital Management LP now owns 35,304 shares of the company’s stock valued at $179,000 after purchasing an additional 2,231 shares during the period. Financial Gravity Wealth Inc. acquired a new position in shares of Qudian in the 1st quarter valued at $28,000. Ayalon Holdings Ltd. boosted its position in shares of Qudian by 34.5% in the 1st quarter. Ayalon Holdings Ltd. now owns 23,411 shares of the company’s stock valued at $121,000 after purchasing an additional 6,011 shares during the period. Virtu Financial LLC boosted its position in shares of Qudian by 30.5% in the 1st quarter. Virtu Financial LLC now owns 28,628 shares of the company’s stock valued at $145,000 after purchasing an additional 6,695 shares during the period. Finally, Penserra Capital Management LLC boosted its position in shares of Qudian by 2.1% in the 1st quarter. Penserra Capital Management LLC now owns 462,569 shares of the company’s stock valued at $2,340,000 after purchasing an additional 9,513 shares during the period. Institutional investors and hedge funds own 11.84% of the company’s stock.
About Qudian (NYSE:QD)
Qudian Inc provides online small consumer credit products in the People's Republic of China. It uses big data-enabled technologies, including artificial intelligence and machine learning to transform the consumer finance experience. The company offers small credit products, such as cash credit products; merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis; and budget auto financing products.
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