Qudian (QD) Shares Down 6.3%

Qudian Inc – (NYSE:QD) dropped 6.3% during mid-day trading on Friday . The stock traded as low as $5.20 and last traded at $5.24. Approximately 5,227,896 shares traded hands during trading, an increase of 100% from the average daily volume of 2,608,615 shares. The stock had previously closed at $5.59.

QD has been the topic of several recent analyst reports. Sanford C. Bernstein lowered shares of Qudian from an “outperform” rating to a “market perform” rating and set a $7.00 target price on the stock. in a research note on Thursday, August 23rd. Zacks Investment Research lowered shares of Qudian from a “hold” rating to a “sell” rating in a research note on Tuesday, May 29th. Macquarie lowered shares of Qudian from an “outperform” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research note on Monday, August 27th. Needham & Company LLC lowered their target price on shares of Qudian from $20.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, May 22nd. Finally, ValuEngine lowered shares of Qudian from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $21.20.

The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.85 billion and a price-to-earnings ratio of 4.80.

Several institutional investors and hedge funds have recently added to or reduced their stakes in QD. Sei Investments Co. acquired a new position in shares of Qudian during the 1st quarter worth about $137,000. Financial Gravity Wealth Inc. acquired a new position in shares of Qudian during the 1st quarter worth about $138,000. Guggenheim Capital LLC acquired a new position in shares of Qudian during the 1st quarter worth about $163,000. Cubist Systematic Strategies LLC acquired a new position in shares of Qudian during the 2nd quarter worth about $164,000. Finally, Wells Fargo & Company MN acquired a new position in shares of Qudian during the 4th quarter worth about $207,000. Hedge funds and other institutional investors own 5.26% of the company’s stock.

Qudian Company Profile (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 cash credit products, such as cash short-term unsecured lines of credit, which are distributed in digital form; and merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis, as well as budget auto financing products.

Featured Story: Diversification in Investing

Receive News & Ratings for Qudian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qudian and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply