Qudian (NYSE:QD) Shares Up 6.1% – What’s Next?

Qudian Inc. (NYSE:QD)’s stock price was up 6.1% on Friday . The company traded as high as $2.87 and last traded at $2.88. Approximately 189,808 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 245,758 shares. The stock had previously closed at $2.71.

Qudian Price Performance

The stock’s 50 day simple moving average is $2.73 and its two-hundred day simple moving average is $2.24. The firm has a market cap of $576.73 million, a P/E ratio of 71.63 and a beta of 0.76.

Institutional Trading of Qudian

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Qudian by 31.4% in 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 in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Qudian during the 3rd quarter valued at $846,000. BNP Paribas Financial Markets increased its holdings in shares of Qudian by 248.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 28,601 shares of the company’s stock worth $61,000 after purchasing an additional 20,400 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Qudian in the second quarter worth $1,918,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Qudian in the third quarter valued at about $32,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.