Qudian (QD) Shares Gap Up to $5.71
Qudian Inc – (NYSE:QD)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.58, but opened at $5.71. Qudian shares last traded at $5.55, with a volume of 500386 shares.
A number of brokerages have recently issued reports on QD. Morgan Stanley raised Qudian from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a research report on Monday, April 8th. Nomura reaffirmed a “neutral” rating on shares of Qudian in a report on Wednesday, February 27th. Zacks Investment Research raised shares of Qudian from a “hold” rating to a “strong-buy” rating and set a $6.25 price target on the stock in a report on Thursday. Finally, ValuEngine raised shares of Qudian from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Qudian currently has a consensus rating of “Hold” and an average price target of $13.85.
The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.72 and a current ratio of 2.89. The firm has a market cap of $1.70 billion, a P/E ratio of 4.92 and a beta of 1.47.
Several hedge funds have recently bought and sold shares of QD. BlackRock Inc. boosted its position in shares of Qudian by 26.3% during the 3rd quarter. BlackRock Inc. now owns 2,507,400 shares of the company’s stock worth $13,064,000 after purchasing an additional 521,560 shares during the period. Credit Suisse AG boosted its position in Qudian by 943.9% in the 3rd quarter. Credit Suisse AG now owns 594,767 shares of the company’s stock valued at $3,099,000 after buying an additional 537,794 shares during the period. GSA Capital Partners LLP purchased a new position in Qudian in the 3rd quarter valued at approximately $210,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Qudian in the 3rd quarter valued at approximately $182,000. Finally, Jane Street Group LLC boosted its position in Qudian by 666.7% in the 3rd quarter. Jane Street Group LLC now owns 109,007 shares of the company’s stock valued at $568,000 after buying an additional 94,789 shares during the period. 6.40% of the stock is currently owned by institutional investors and hedge funds.
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 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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