Qudian (NYSE:QD) Stock Price Down 5.4% – Here’s Why

Qudian Inc. (NYSE:QD) shares traded down 5.4% during trading on Friday . The stock traded as low as $2.79 and last traded at $2.79. 316,296 shares were traded during trading, a decline of 55% from the average session volume of 705,330 shares. The stock had previously closed at $2.95.

Qudian Trading Down 5.1 %

The stock has a market capitalization of $561.68 million, a PE ratio of 73.63 and a beta of 0.73. The stock has a 50 day moving average price of $2.48 and a 200-day moving average price of $2.06.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Qudian by 31.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,435,477 shares of the company’s stock worth $2,838,000 after buying an additional 343,294 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Qudian in the 2nd quarter valued at $1,918,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Qudian in the 3rd quarter valued at $32,000. Ballentine Partners LLC grew its position in Qudian by 91.4% during the 2nd quarter. Ballentine Partners LLC now owns 21,934 shares of the company’s stock worth $43,000 after purchasing an additional 10,476 shares during the period. Finally, Caprock Group LLC acquired a new stake in Qudian during the 2nd quarter worth about $65,000. Institutional investors own 8.10% of the company’s stock.

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.