PPDAI Group (NYSE:FINV) Sets New 52-Week Low – Here’s What Happened

PPDAI Group Inc. Sponsored ADR (NYSE:FINV) reached a new 52-week low during trading on Wednesday. The company traded as low as $2.80 and last traded at $2.8350, with a volume of 370,133 shares changing hands. The stock had previously closed at $2.88.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings cut shares of PPDAI Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Citigroup restated a “neutral” rating and set a $4.10 target price (down from $8.10) on shares of PPDAI Group in a research report on Friday, August 28th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $4.10.

PPDAI Group Stock Performance

The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $687.29 million, a price-to-earnings ratio of 2.66 and a beta of 0.33. The company has a 50-day moving average price of $3.35 and a 200-day moving average price of $4.62.

PPDAI Group (NYSE:FINV) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter. The firm had revenue of $500.91 million for the quarter. PPDAI Group had a net margin of 14.49% and a return on equity of 12.31%.

Institutional Investors Weigh In On PPDAI Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FINV. Park Avenue Securities LLC acquired a new stake in PPDAI Group in the 3rd quarter valued at approximately $31,000. Ramsey Quantitative Systems raised its holdings in PPDAI Group by 126.8% during the 3rd quarter. Ramsey Quantitative Systems now owns 88,000 shares of the company’s stock worth $267,000 after purchasing an additional 49,200 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of PPDAI Group during the second quarter worth approximately $122,000. Finally, Squarepoint Ops LLC bought a new stake in PPDAI Group during the second quarter worth $119,000. Institutional investors own 31.15% of the company’s stock.

PPDAI Group Company Profile

PPDAI Group, now known as FinVolution Group, is a Chinese fintech company that operates an online consumer finance platform. Founded in 2007, the company uses technology, data analytics and risk-management systems to facilitate personal finance services for consumers, particularly borrowers who may have limited access to traditional banking products.

FinVolution’s platform connects borrowers with funding sources and provides digital loan origination, credit assessment, risk management, loan servicing and other technology-enabled services.