Qudian (NYSE:QD) Trading 3.2% Higher – Here’s Why

Qudian Inc. (NYSE:QD)’s share price was up 3.2% during mid-day trading on Friday . The company traded as high as $2.66 and last traded at $2.61. Approximately 71,312 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 699,639 shares. The stock had previously closed at $2.53.

Qudian Trading Up 14.2 %

The firm’s fifty day simple moving average is $2.55 and its 200 day simple moving average is $2.11. The company has a market cap of $579.74 million, a price-to-earnings ratio of 72.25 and a beta of 0.73.

Institutional Trading of Qudian

Institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Qudian during the 3rd quarter worth about $32,000. Ballentine Partners LLC increased its stake in Qudian by 91.4% in the second quarter. Ballentine Partners LLC now owns 21,934 shares of the company’s stock valued at $43,000 after purchasing an additional 10,476 shares during the last quarter. XTX Topco Ltd acquired a new stake in Qudian during the third quarter worth approximately $50,000. BNP Paribas Financial Markets lifted its position in shares of Qudian by 248.8% during the 3rd 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. Finally, Caprock Group LLC acquired a new position in shares of Qudian in the 2nd quarter valued at $65,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

Qudian Company Profile

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.