Qudian (NYSE:QD) Reaches New 52-Week High – Here’s Why

Shares of Qudian Inc. (NYSE:QD) hit a new 52-week high during trading on Tuesday . The stock traded as high as $2.61 and last traded at $2.61, with a volume of 888852 shares trading hands. The stock had previously closed at $2.29.

Qudian Trading Up 29.3 %

The firm has a market capitalization of $593.78 million, a P/E ratio of 57.25 and a beta of 0.60. The business’s 50 day simple moving average is $2.22 and its two-hundred day simple moving average is $1.96.

Qudian (NYSE:QD) last announced its quarterly earnings data on Friday, September 6th. The company reported $0.07 earnings per share for the quarter. Qudian had a net margin of 18.32% and a return on equity of 0.36%. The company had revenue of $7.34 million during the quarter.

Institutional Trading of Qudian

A number of hedge funds have recently bought and sold shares of QD. Public Employees Retirement System of Ohio purchased a new stake in Qudian during the third quarter valued at approximately $846,000. XTX Topco Ltd bought a new stake in shares of Qudian during the 3rd quarter valued at $50,000. BNP Paribas Financial Markets increased its stake 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. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Qudian during the third quarter valued at $32,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Qudian during the second quarter valued at $1,918,000. Hedge funds and other institutional investors 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.