PPDAI Group (NYSE:FINV) Trading Down 2.4% – What’s Next?

PPDAI Group Inc. Sponsored ADR (NYSE:FINV)’s share price traded down 2.4% on Tuesday . The stock traded as low as $5.94 and last traded at $6.0250. 897,451 shares were traded during mid-day trading, a decline of 46% from the average session volume of 1,653,187 shares. The stock had previously closed at $6.17.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of PPDAI Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 26th. Weiss Ratings cut shares of PPDAI Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, PPDAI Group has an average rating of “Moderate Buy” and an average price target of $11.55.

PPDAI Group Stock Down 2.4%

The firm has a market capitalization of $1.53 billion, a PE ratio of 4.07 and a beta of 0.37. The business’s fifty day moving average price is $7.24 and its 200 day moving average price is $8.34. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.06.

PPDAI Group (NYSE:FINV) last issued its quarterly earnings results on Wednesday, August 20th. The company reported $0.41 earnings per share (EPS) for the quarter. The business had revenue of $499.46 million for the quarter. PPDAI Group had a net margin of 20.28% and a return on equity of 18.88%. PPDAI Group has set its FY 2025 guidance at EPS.

Institutional Trading of PPDAI Group

Several institutional investors and hedge funds have recently made changes to their positions in FINV. Farther Finance Advisors LLC acquired a new stake in shares of PPDAI Group during the 2nd quarter worth $31,000. Quantbot Technologies LP acquired a new stake in PPDAI Group during the first quarter worth about $62,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of PPDAI Group in the 3rd quarter worth about $94,000. Cetera Investment Advisers grew its stake in shares of PPDAI Group by 21.5% in the first quarter. Cetera Investment Advisers now owns 17,660 shares of the company’s stock worth $170,000 after purchasing an additional 3,125 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of PPDAI Group by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 26,369 shares of the company’s stock valued at $254,000 after acquiring an additional 2,647 shares during the period. 31.15% of the stock is currently owned by hedge funds and other institutional investors.

PPDAI Group Company Profile

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.