Qudian (NYSE:QD) Hits New 1-Year High – Still a Buy?

Qudian Inc. (NYSE:QD)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $2.61 and last traded at $2.61, with a volume of 888852 shares changing hands. The stock had previously closed at $2.29.

Qudian Stock Performance

The firm has a market capitalization of $593.78 million, a PE ratio of 57.25 and a beta of 0.60. The stock’s 50-day simple moving average is $2.22 and its 200-day simple moving average is $1.96.

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

Institutional Investors Weigh In On Qudian

Hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Qudian in the third quarter worth about $32,000. Ballentine Partners LLC grew its stake in shares of Qudian by 91.4% in the 2nd quarter. Ballentine Partners LLC now owns 21,934 shares of the company’s stock worth $43,000 after buying an additional 10,476 shares during the last quarter. XTX Topco Ltd bought a new position in Qudian during the 3rd quarter valued at approximately $50,000. BNP Paribas Financial Markets raised its stake in Qudian by 248.8% during the third quarter. BNP Paribas Financial Markets now owns 28,601 shares of the company’s stock valued at $61,000 after buying an additional 20,400 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in Qudian during the second quarter valued at $65,000. 8.10% of the stock is currently owned by institutional investors.

About Qudian

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.