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Qudian (NYSE:QD) Shares Up 2.9% - Here's What Happened

Qudian logo with Finance background

Shares of Qudian Inc. (NYSE:QD - Get Free Report) shot up 2.9% during mid-day trading on Monday . The company traded as high as $2.73 and last traded at $2.71. 218,022 shares were traded during mid-day trading, a decline of 60% from the average session volume of 550,420 shares. The stock had previously closed at $2.63.

Qudian Trading Down 13.5 %

The stock has a 50-day simple moving average of $2.83 and a 200 day simple moving average of $2.63. The company has a market cap of $454.36 million, a price-to-earnings ratio of 56.63 and a beta of 0.47.

Qudian (NYSE:QD - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported ($0.05) EPS for the quarter. Qudian had a return on equity of 0.36% and a net margin of 18.32%. The firm had revenue of $7.16 million for the quarter.

Institutional Trading of Qudian

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its holdings 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 purchasing an additional 95,778 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Qudian in the 4th quarter valued at about $57,000. BNP Paribas Financial Markets boosted its stake in shares of Qudian by 248.8% in the third quarter. BNP Paribas Financial Markets now owns 28,601 shares of the company's stock worth $61,000 after buying an additional 20,400 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Qudian during the third quarter valued at approximately $846,000. Finally, Ballentine Partners LLC lifted its holdings 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 acquiring an additional 13,599 shares during the period. Institutional investors and hedge funds own 8.10% of the company's stock.

About Qudian

(Get Free Report)

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.

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