Qudian Inc – (NYSE:QD) reached a new 52-week low during trading on Tuesday . The stock traded as low as $4.05 and last traded at $4.09, with a volume of 88486 shares. The stock had previously closed at $4.30.
Several brokerages have issued reports on QD. Needham & Company LLC cut shares of Qudian from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Zacks Investment Research raised shares of Qudian from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 25th. Macquarie cut shares of Qudian from an “outperform” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Monday, August 27th. Finally, Sanford C. Bernstein cut shares of Qudian from an “outperform” rating to a “market perform” rating and set a $7.00 target price for the company. in a report on Thursday, August 23rd. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price 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 firm has a market capitalization of $1.54 billion and a PE ratio of 3.76.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Qudian by 46.1% during the first quarter. BlackRock Inc. now owns 1,185,749 shares of the company’s stock valued at $13,874,000 after purchasing an additional 373,996 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Qudian during the second quarter valued at approximately $365,000. Guggenheim Capital LLC bought a new stake in Qudian during the first quarter valued at approximately $163,000. UBS Group AG grew its position in Qudian by 4,335.3% during the first quarter. UBS Group AG now owns 53,223 shares of the company’s stock valued at $623,000 after buying an additional 52,023 shares during the period. Finally, AMP Capital Investors Ltd bought a new stake in Qudian during the second quarter valued at approximately $731,000. 5.42% of the stock is owned by hedge funds and other institutional investors.
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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