PPDAI Group (NYSE:FINV) Sees Large Volume Increase – What’s Next?

PPDAI Group Inc. Sponsored ADR (NYSE:FINV) saw strong trading volume on Friday . 3,298,790 shares changed hands during trading, an increase of 130% from the previous session’s volume of 1,432,207 shares.The stock last traded at $4.9850 and had previously closed at $5.04.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of PPDAI Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 23rd. Weiss Ratings downgraded PPDAI Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, PPDAI Group currently has an average rating of “Moderate Buy” and a consensus target price of $11.55.

PPDAI Group Trading Up 0.1%

The firm has a market cap of $1.28 billion, a P/E ratio of 3.43 and a beta of 0.37. The business’s 50 day moving average is $6.39 and its 200-day moving average is $8.03. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 0.06.

PPDAI Group (NYSE:FINV) last announced its quarterly earnings data on Wednesday, November 19th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $489.62 million for the quarter, compared to analyst estimates of $510.18 million. PPDAI Group had a return on equity of 18.33% and a net margin of 19.98%. PPDAI Group has set its FY 2025 guidance at EPS.

Institutional Trading of PPDAI Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in PPDAI Group by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 26,369 shares of the company’s stock valued at $254,000 after acquiring an additional 2,647 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of PPDAI Group by 21.5% in the first quarter. Cetera Investment Advisers now owns 17,660 shares of the company’s stock worth $170,000 after purchasing an additional 3,125 shares in the last quarter. Farther Finance Advisors LLC bought a new position in shares of PPDAI Group in the second quarter worth $31,000. Invesco Ltd. increased its holdings in shares of PPDAI Group by 2.3% during the first quarter. Invesco Ltd. now owns 161,133 shares of the company’s stock valued at $1,552,000 after purchasing an additional 3,565 shares during the period. Finally, Ascent Group LLC raised its stake in shares of PPDAI Group by 15.9% during the first quarter. Ascent Group LLC now owns 29,977 shares of the company’s stock valued at $289,000 after purchasing an additional 4,111 shares in the last quarter. Institutional investors and hedge funds own 31.15% of the company’s stock.

About PPDAI Group

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.