Qudian (NYSE:QD) Shares Up 6.1% - Time to Buy?

Qudian Inc. (NYSE:QD) experienced a notable rise in its stock price, climbing 6.1% during mid-day trading on Friday. The stock reached a peak of $2.87 before settling at $2.88. During the trading session, a total of 189,808 shares exchanged hands, which represents a 23% decrease from the average daily volume of 245,758 shares. Previously, the stock had closed at $2.71.

Qudian Stock Performance

The stock's performance can be analyzed by looking at its moving averages. Currently, Qudian has a fifty-day moving average price of $2.73 and a two-hundred-day moving average price of $2.24. The company's market capitalization stands at approximately $576.73 million, with a price-to-earnings (PE) ratio of 71.63 and a beta value of 0.76, indicating lower volatility compared to the market.

Institutional Trading Activity

Recent activity from institutional investors shows significant interest in Qudian. Dimensional Fund Advisors LP increased its stake in the company by 31.4% in the second quarter, now holding 1,435,477 shares valued at $2,838,000 after acquiring an additional 343,294 shares. Additionally, the Healthcare of Ontario Pension Plan Trust Fund entered a new position valued at approximately $1,918,000 in the same quarter. Furthermore, Connor Clark & Lunn Investment Management Ltd. also initiated a new position worth around $32,000 during the third quarter. Notably, BNP Paribas Financial Markets boosted its stake by an impressive 248.8% in the third quarter, holding now 28,601 shares worth $61,000 after acquiring an extra 20,400 shares. XTX Topco Ltd. added a new stake valued at $50,000 during the third quarter. Currently, about 8.10% of Qudian's stock is held by hedge funds and institutional investors.

About Qudian

Qudian Inc. operates as a consumer technology company based in the People's Republic of China. The company specializes in managing online platforms that provide a range of small consumer credit products. In addition, they offer technology development services, research and development services, and delivery services.

Investment Considerations

Before considering an investment in Qudian, it is important to conduct thorough research. Current analyst ratings suggest a "Hold" status for Qudian, meaning it may not be the best option at this time compared to other investment opportunities. Investors might want to explore alternative stocks that analysts are recommending for potential better returns.

In conclusion, while Qudian has shown recent gains, interested investors should weigh their options carefully and consider market sentiments before making investment decisions.

Qudian, Stocks, Trading