Qudian (NYSE:QD) Trading 3.2% Higher – Still a Buy?

Qudian Inc. (NYSE:QD) shares shot up 3.2% during trading on Friday . The company traded as high as $2.66 and last traded at $2.61. 71,312 shares were traded during trading, a decline of 90% from the average session volume of 699,639 shares. The stock had previously closed at $2.53.

Qudian Trading Up 14.2 %

The firm has a market capitalization of $579.74 million, a PE ratio of 72.25 and a beta of 0.73. The company has a fifty day moving average price of $2.55 and a two-hundred day moving average price of $2.11.

Hedge Funds Weigh In On Qudian

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in Qudian by 31.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,435,477 shares of the company’s stock valued at $2,838,000 after acquiring an additional 343,294 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Qudian during the second quarter worth approximately $1,918,000. BNP Paribas Financial Markets raised its stake in shares of Qudian by 248.8% during the third quarter. BNP Paribas Financial Markets now owns 28,601 shares of the company’s stock worth $61,000 after purchasing an additional 20,400 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Qudian during the third quarter worth $846,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Qudian in the 3rd quarter valued at $32,000. 8.10% of the stock is owned by institutional investors and hedge funds.

About Qudian

Qudian Inc operates as a consumer-oriented technology company in the People's Republic of China. The company engages in the operation of online platforms to provide small consumer credit products. It also provides technology development and services; research and development services; and delivery services.