Qudian (NYSE:QD) Shares Rise by 6.1% - A Potential Investment Opportunity

Qudian Inc. (NYSE:QD) experienced a notable increase in its stock price, rising by 6.1% during mid-day trading on Friday. The stock reached a peak of $2.87 before closing at $2.88. During this trading session, 189,808 shares were exchanged, which is a 23% drop from the average trading volume of 245,758 shares. This rise comes after the stock had previously closed at $2.71.

Qudian Stock Performance

The current price reflects a fifty-day moving average of $2.73 and a two-hundred-day moving average of $2.24. With a market capitalization of approximately $576.73 million, Qudian holds a price-to-earnings (PE) ratio of 71.63 and has a beta of 0.76, indicating lower volatility compared to the market.

Institutional Investor Activity

Recently, several institutional investors have adjusted their holdings in Qudian. Dimensional Fund Advisors LP increased its stake by 31.4% in the second quarter, now holding 1,435,477 shares valued at about $2,838,000 after acquiring an additional 343,294 shares. The Healthcare of Ontario Pension Plan Trust Fund also entered a new position valued at approximately $1,918,000 during the same period. Additionally, Connor Clark & Lunn Investment Management Ltd. acquired a new position worth around $32,000 in the third quarter, while BNP Paribas Financial Markets expanded its stake by 248.8%, now owning 28,601 shares valued at $61,000 after buying an extra 20,400 shares. XTX Topco Ltd. also bought a new stake valued at $50,000. Currently, hedge funds and other institutional investors own about 8.10% of the company's stock.

About Qudian

Qudian Inc. operates as a technology company focused on consumer services within the People's Republic of China. Primarily, it provides an online platform for small consumer credit offerings. The company is also engaged in technology development, research and development services, and delivery services.

Investment Considerations

As investors consider their options, it is important to note that Qudian currently holds a 'Hold' rating among financial analysts. MarketBeat, a platform for tracking top-rated research analysts, highlights five stocks that are recommended for investment over Qudian at this time.

If you're exploring strategic investments, knowing which stocks are attracting major institutional buyers could be key. Insights about the stocks that are increasingly popular among institutional investors are readily available.

Make sure to research thoroughly before making financial decisions regarding Qudian or other stocks.

Qudian, Stocks, Investment