Qudian (NYSE:QD) Stock Price Up 9.2% – Here’s Why

Qudian Inc. (NYSE:QD)’s stock price rose 9.2% on Friday . The stock traded as high as $3.12 and last traded at $3.26. Approximately 490,918 shares were traded during mid-day trading, an increase of 59% from the average daily volume of 309,527 shares. The stock had previously closed at $2.98.

Qudian Stock Performance

The company’s fifty day moving average is $2.85 and its two-hundred day moving average is $2.39. The company has a market cap of $660.98 million, a price-to-earnings ratio of 82.38 and a beta of 0.72.

Qudian (NYSE:QD) last issued its quarterly earnings results on Friday, November 22nd. The company reported $0.10 earnings per share for the quarter. Qudian had a net margin of 18.32% and a return on equity of 0.36%.

Institutional Investors Weigh In On Qudian

Several hedge funds have recently bought and sold shares of the stock. Seldon Capital LP purchased a new stake in Qudian in the 4th quarter worth approximately $92,000. Marshall Wace LLP lifted its position in shares of Qudian by 44.5% during the 4th quarter. Marshall Wace LLP now owns 274,308 shares of the company’s stock valued at $774,000 after buying an additional 84,532 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Qudian by 88.0% during the 4th quarter. Russell Investments Group Ltd. now owns 49,555 shares of the company’s stock valued at $142,000 after buying an additional 23,198 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Qudian by 12.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,242,435 shares of the company’s stock valued at $3,504,000 after buying an additional 140,517 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Qudian during the 4th quarter valued at approximately $442,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Qudian Company Profile

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.