Shares of Qudian Inc. Sponsored ADR (NYSE:QD) fell 6.1% on Tuesday . The company traded as low as $13.00 and last traded at $13.19. 6,354,850 shares were traded during trading, a decline of 24% from the average session volume of 8,394,007 shares. The stock had previously closed at $14.05.

A number of research firms have recently weighed in on QD. began coverage on shares of Qudian in a report on Wednesday, November 15th. They set a “buy” rating and a $35.00 target price for the company. Stifel Nicolaus began coverage on shares of Qudian in a report on Wednesday, November 15th. They set a “buy” rating and a $35.00 target price for the company. Citigroup began coverage on shares of Qudian in a report on Tuesday, November 14th. They set a “buy” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price (down from $30.00) on shares of Qudian in a report on Tuesday, December 5th. Finally, ValuEngine upgraded shares of Qudian from a “buy” rating to a “strong-buy” rating in a report on Monday, December 4th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.50.

The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of -0.14.

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Qudian Company Profile

Qudian Inc provides cash credit products, which provide funds in digital form, and merchandise credit products. The Company operates through an online platform and all the transaction are facilitated through mobile devices. Borrowers can apply for credit on their mobile phones and receive approval within a few seconds.

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