Qudian (QD) Upgraded by Morgan Stanley to Overweight
Qudian (NYSE:QD) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat.com reports. The firm currently has a $7.00 price target on the stock. Morgan Stanley’s target price indicates a potential upside of 29.39% from the company’s current price.
Other research analysts have also issued research reports about the company. ValuEngine upgraded Qudian from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Nomura restated a “neutral” rating on shares of Qudian in a research note on Wednesday, February 27th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $15.75.
Shares of NYSE QD opened at $5.41 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.72 and a debt-to-equity ratio of 0.04. Qudian has a 52-week low of $4.00 and a 52-week high of $12.26. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 4.58 and a beta of 1.47.
Several hedge funds have recently added to or reduced their stakes in QD. BlackRock Inc. lifted its stake in shares of Qudian by 26.3% in 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. Credit Suisse AG boosted its holdings in shares of Qudian by 943.9% in the 3rd quarter. Credit Suisse AG now owns 594,767 shares of the company’s stock worth $3,099,000 after purchasing an additional 537,794 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Qudian in the 3rd quarter worth approximately $210,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Qudian during the 3rd quarter valued at approximately $182,000. Finally, Jane Street Group LLC increased its position in shares of Qudian by 666.7% during the 3rd quarter. Jane Street Group LLC now owns 109,007 shares of the company’s stock valued at $568,000 after purchasing an additional 94,789 shares during the last quarter. 6.40% of the stock is currently owned by institutional investors and hedge funds.
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.
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