Qudian (NYSE:QD) Shares Gap Up to $7.65

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Qudian Inc – (NYSE:QD) gapped up before the market opened on Friday . The stock had previously closed at $7.42, but opened at $7.65. Qudian shares last traded at $7.83, with a volume of 7,891,633 shares changing hands.

Several research firms recently weighed in on QD. ValuEngine downgraded Qudian from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. China Renaissance Securities reissued a “hold” rating and set a $8.00 price objective on shares of Qudian in a report on Tuesday, May 14th. Finally, Zacks Investment Research raised Qudian from a “hold” rating to a “strong-buy” rating and set a $10.00 price objective on the stock in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Qudian presently has a consensus rating of “Hold” and a consensus target price of $15.25.

The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.91 and a current ratio of 3.03. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 6.93 and a beta of 1.66. The company has a fifty day moving average of $8.51 and a two-hundred day moving average of $6.91.

Qudian (NYSE:QD) last released its quarterly earnings data on Friday, August 16th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.06. The company had revenue of $323.48 million for the quarter. Qudian had a return on equity of 31.21% and a net margin of 44.04%. Equities analysts expect that Qudian Inc – will post 2.29 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Virtu Financial LLC raised its position in Qudian by 30.5% during the 1st quarter. Virtu Financial LLC now owns 28,628 shares of the company’s stock worth $145,000 after purchasing an additional 6,695 shares during the last quarter. Norges Bank bought a new position in shares of Qudian in the 4th quarter worth about $2,036,000. Ayalon Holdings Ltd. raised its position in shares of Qudian by 34.5% in the 1st quarter. Ayalon Holdings Ltd. now owns 23,411 shares of the company’s stock worth $121,000 after acquiring an additional 6,011 shares in the last quarter. Diversified Trust Co bought a new position in shares of Qudian in the 2nd quarter worth about $836,000. Finally, Equitec Specialists LLC bought a new position in shares of Qudian in the 2nd quarter worth about $150,000. 23.04% of the stock is owned by institutional investors and hedge funds.

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 small credit products, such as cash credit products; merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis; and budget auto financing products.

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