PPDAI Group (NYSE:FINV) Sets New 1-Year Low – Here’s Why

PPDAI Group Inc. Sponsored ADR (NYSE:FINV)’s share price reached a new 52-week low during trading on Monday. The stock traded as low as $3.06 and last traded at $3.0750, with a volume of 26515 shares. The stock had previously closed at $3.11.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Weiss Ratings upgraded shares of PPDAI Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, September 17th. Citigroup reaffirmed a “neutral” rating and set a $4.10 price target (down from $8.10) on shares of PPDAI Group in a report on Friday, August 28th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.10.

PPDAI Group Trading Down 1.4%

The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $4.09 and a 200-day moving average price of $4.65. The company has a market capitalization of $745.68 million, a price-to-earnings ratio of 2.89 and a beta of 0.34.

PPDAI Group (NYSE:FINV) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.28 earnings per share for the quarter. PPDAI Group had a return on equity of 12.31% and a net margin of 14.49%.The firm had revenue of $500.91 million for the quarter.

Institutional Trading of PPDAI Group

A hedge fund recently bought a new stake in PPDAI Group stock. Engineers Gate Manager LP bought a new position in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 25,543 shares of the company’s stock, valued at approximately $122,000. 31.15% of the stock is owned by institutional investors and hedge funds.

About PPDAI Group

PPDAI Group, now known as FinVolution Group, is a Chinese fintech company that operates an online consumer finance platform. The company uses technology, data analytics and automated risk-management tools to facilitate unsecured personal loans for underserved borrowers who may have limited access to traditional banking services.

Its platform connects borrowers with funding partners and supports the digital lending process, including customer acquisition, credit assessment, loan matching, account management and repayment services.