PPDAI Group Inc. Sponsored ADR (NYSE:FINV – Get Free Report) shares were up 4.3% during mid-day trading on Thursday. The stock traded as high as $3.07 and last traded at $3.0550. Approximately 792,549 shares changed hands during trading, a decline of 22% from the average daily volume of 1,016,908 shares. The stock had previously closed at $2.93.
Wall Street Analyst Weigh In
FINV has been the subject of a number of analyst reports. Citigroup reissued a “neutral” rating and set a $4.10 target price (down from $8.10) on shares of PPDAI Group in a research note on Friday, August 28th. Weiss Ratings lowered PPDAI Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $4.10.
Check Out Our Latest Analysis on PPDAI Group
PPDAI Group Stock Performance
PPDAI Group (NYSE:FINV – Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.28 EPS for the quarter. PPDAI Group had a net margin of 14.49% and a return on equity of 12.31%. The business had revenue of $500.91 million for the quarter.
Institutional Investors Weigh In On PPDAI Group
A hedge fund recently bought a new position in PPDAI Group stock. Engineers Gate Manager LP purchased a new position in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,543 shares of the company’s stock, valued at approximately $122,000. Hedge funds and other institutional investors own 31.15% of the company’s stock.
PPDAI Group Company Profile
PPDAI Group Inc, now known as FinVolution Group, is a Chinese fintech company that operates an online consumer finance platform. The company uses technology, data analytics and risk-management tools to connect individual borrowers with funding sources and facilitate unsecured consumer loans.
Its services generally include borrower acquisition, credit assessment, loan matching and facilitation, payment processing, and post-loan management. FinVolution serves consumers who may have limited access to traditional banking services and works with institutional funding partners and other financial institutions through its technology platform.
Founded in 2007, the company was originally known as PPDAI and later adopted the FinVolution name as part of its broader technology and international strategy.
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