Qudian (NYSE:QD) Sees Strong Trading Volume – Time to Buy?

Shares of Qudian Inc. (NYSE:QD) saw unusually-high trading volume on Wednesday . Approximately 284,681 shares changed hands during mid-day trading, a decline of 60% from the previous session’s volume of 704,779 shares.The stock last traded at $2.91 and had previously closed at $3.05.

Qudian Price Performance

The company has a market capitalization of $601.80 million, a P/E ratio of 74.25 and a beta of 0.60. The firm has a fifty day moving average price of $2.24 and a 200-day moving average price of $1.97.

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

Institutional Investors Weigh In On Qudian

Several large investors have recently modified their holdings of QD. Jane Street Group LLC boosted its stake in shares of Qudian by 5,018.4% in the first quarter. Jane Street Group LLC now owns 3,030,452 shares of the company’s stock worth $7,576,000 after buying an additional 2,971,245 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Qudian in the second quarter valued at approximately $1,918,000. Public Employees Retirement System of Ohio purchased a new position in Qudian during the third quarter worth about $846,000. Dimensional Fund Advisors LP lifted its holdings in Qudian by 31.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,435,477 shares of the company’s stock valued at $2,838,000 after acquiring an additional 343,294 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in Qudian during the 2nd quarter valued at about $65,000. Institutional investors own 8.10% of the company’s stock.

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.