Qudian (NYSE:QD) Sees Large Volume Increase – Time to Buy?

Qudian Inc. (NYSE:QD) saw an uptick in trading volume on Wednesday . 284,681 shares changed hands during 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 Stock Performance

The business’s fifty day moving average price is $2.27 and its two-hundred day moving average price is $1.98. The firm has a market capitalization of $609.83 million, a P/E ratio of 76.00 and a beta of 0.60.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted 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 worth $2,838,000 after acquiring an additional 343,294 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Qudian in the 2nd quarter worth approximately $1,918,000. Jane Street Group LLC grew its position in Qudian by 5,018.4% during the 1st quarter. Jane Street Group LLC now owns 3,030,452 shares of the company’s stock worth $7,576,000 after purchasing an additional 2,971,245 shares during the last quarter. Ballentine Partners LLC increased its stake in Qudian by 91.4% during the 2nd 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 in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Qudian in the second quarter worth $65,000. 8.10% of the stock is owned by institutional investors and hedge funds.

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.