Qudian (QD) Shares Down 6.7%
Shares of Qudian Inc – (NYSE:QD) traded down 6.7% on Monday . The stock traded as low as $6.77 and last traded at $6.91. 5,967,900 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 4,896,986 shares. The stock had previously closed at $7.41.
Several analysts recently weighed in on the company. China Renaissance Securities restated a “hold” rating and issued a $8.00 price target on shares of Qudian in a research note on Tuesday. TheStreet upgraded Qudian from a “d+” rating to a “c-” rating in a research note on Thursday, April 18th. Zacks Investment Research upgraded Qudian from a “hold” rating to a “strong-buy” rating and set a $6.25 price target on the stock in a research note on Thursday, April 11th. Morgan Stanley upgraded Qudian from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a research note on Monday, April 8th. Finally, Nomura restated a “neutral” rating on shares of Qudian in a research note on Wednesday, February 27th. Six analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Qudian currently has a consensus rating of “Hold” and a consensus price target of $12.88.
The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.89. The company has a market cap of $2.28 billion, a P/E ratio of 6.19 and a beta of 1.88.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Qudian by 26.3% during the 3rd quarter. BlackRock Inc. now owns 2,507,400 shares of the company’s stock valued at $13,064,000 after purchasing an additional 521,560 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Qudian by 7.3% in the 3rd quarter. Vanguard Group Inc now owns 2,033,111 shares of the company’s stock worth $10,593,000 after buying an additional 138,540 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Qudian by 7.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,033,111 shares of the company’s stock worth $10,593,000 after buying an additional 138,540 shares during the last quarter. Morgan Stanley boosted its stake in shares of Qudian by 964.5% in the 1st quarter. Morgan Stanley now owns 1,365,824 shares of the company’s stock worth $6,912,000 after buying an additional 1,237,518 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Qudian by 2,791.2% in the 4th quarter. Bank of America Corp DE now owns 1,279,985 shares of the company’s stock worth $5,491,000 after buying an additional 1,235,713 shares during the last quarter. Institutional investors and hedge funds own 6.37% of the company’s stock.
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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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