Qudian (NYSE:QD) Trading 6.3% Higher – Here’s Why

Qudian Inc. (NYSE:QD) shares shot up 6.3% during trading on Thursday . The stock traded as high as $3.22 and last traded at $3.23. 314,705 shares traded hands during trading, a decline of 7% from the average session volume of 339,943 shares. The stock had previously closed at $3.04.

Qudian Stock Down 7.3 %

The company has a market capitalization of $594.78 million, a P/E ratio of 74.13 and a beta of 0.72. The company’s fifty day moving average price is $2.87 and its 200 day moving average price is $2.43.

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

Institutional Trading of Qudian

Several large investors have recently made changes to their positions in QD. SG Americas Securities LLC boosted its position in Qudian by 35.1% in the fourth quarter. SG Americas Securities LLC now owns 368,384 shares of the company’s stock valued at $1,039,000 after buying an additional 95,778 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Qudian by 248.8% in the third quarter. BNP Paribas Financial Markets now owns 28,601 shares of the company’s stock valued at $61,000 after buying an additional 20,400 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Qudian in the third quarter valued at approximately $846,000. Ballentine Partners LLC boosted its position in Qudian by 124.2% in the fourth quarter. Ballentine Partners LLC now owns 24,548 shares of the company’s stock valued at $69,000 after buying an additional 13,599 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Qudian during the third quarter worth $32,000. Institutional investors and hedge funds 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.