Shares of Qudian Inc – (NYSE:QD) reached a new 52-week low on Wednesday . The stock traded as low as $5.46 and last traded at $5.61, with a volume of 173637 shares changing hands. The stock had previously closed at $5.79.
Several research firms have recently weighed in on QD. Needham & Company LLC lowered their price objective on shares of Qudian from $20.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, May 22nd. Zacks Investment Research cut shares of Qudian from a “hold” rating to a “sell” rating in a research report on Tuesday, May 29th. ValuEngine cut shares of Qudian from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Sanford C. Bernstein cut shares of Qudian from an “outperform” rating to a “market perform” rating and set a $7.00 price objective on the stock. in a research report on Thursday, August 23rd. Finally, Macquarie cut shares of Qudian from an “outperform” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research report on Monday, August 27th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $21.20.
The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22. The stock has a market cap of $1.96 billion and a price-to-earnings ratio of 5.13.
Several institutional investors have recently bought and sold shares of QD. NINE MASTS CAPITAL Ltd raised its position in shares of Qudian by 176.7% during the 1st quarter. NINE MASTS CAPITAL Ltd now owns 2,044,901 shares of the company’s stock valued at $23,925,000 after buying an additional 1,305,738 shares in the last quarter. BlackRock Inc. raised its position in Qudian by 67.5% in the 2nd quarter. BlackRock Inc. now owns 1,985,840 shares of the company’s stock worth $17,595,000 after purchasing an additional 800,091 shares during the period. All Stars Investment Ltd raised its position in Qudian by 217.2% in the 1st quarter. All Stars Investment Ltd now owns 1,015,000 shares of the company’s stock worth $10,049,000 after purchasing an additional 695,000 shares during the period. Bloom Tree Partners LLC raised its position in Qudian by 106.2% in the 1st quarter. Bloom Tree Partners LLC now owns 927,783 shares of the company’s stock worth $10,855,000 after purchasing an additional 477,783 shares during the period. Finally, First Trust Advisors LP purchased a new position in Qudian in the 2nd quarter worth $2,983,000. 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.
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