CNFinance (NYSE:CNF) Trading Up 0.2% – Here’s Why

CNFinance Holdings Limited Sponsored ADR (NYSE:CNF)’s stock price traded up 0.2% on Thursday . The stock traded as high as $6.00 and last traded at $6.00. 18,571 shares were traded during mid-day trading, an increase of 95% from the average session volume of 9,522 shares. The stock had previously closed at $5.99.

Wall Street Analyst Weigh In

Several research firms have commented on CNF. Weiss Ratings reiterated a “sell (d)” rating on shares of CNFinance in a report on Wednesday, October 8th. Greenridge Global upgraded CNFinance to a “strong-buy” rating in a report on Friday, September 5th. Finally, Zacks Research raised shares of CNFinance to a “hold” rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, CNFinance has an average rating of “Hold”.

CNFinance Stock Performance

The company has a quick ratio of 392.34, a current ratio of 681.01 and a debt-to-equity ratio of 1.32. The firm has a 50-day simple moving average of $5.09 and a 200 day simple moving average of $5.31. The company has a market cap of $41.94 million and a price-to-earnings ratio of 1.97.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CNFinance stock. XTX Topco Ltd grew its holdings in shares of CNFinance Holdings Limited Sponsored ADR (NYSE:CNF) by 318.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,079 shares of the company’s stock after purchasing an additional 37,359 shares during the period. XTX Topco Ltd owned approximately 0.07% of CNFinance worth $32,000 at the end of the most recent reporting period.

About CNFinance

CNFinance Holdings Limited, through its subsidiaries, provides home equity loan services in the People's Republic of China. It offers micro credit loan services for micro and small-enterprise owners; and loan lending agency services for financial institutions. The company provides bridge loan products, which are unsecured short-term loans to pay off borrowers' existing loans secured by real property.