JD.com (NASDAQ:JD) Trading Down 3.3% - Here's What Happened

Shares of JD.com, Inc. (NASDAQ:JD - Get Free Report) were down 3.3% during mid-day trading on Wednesday . The stock traded as low as $31.53 and last traded at $31.64. Approximately 3,816,904 shares were traded during trading, a decline of 73% from the average daily volume of 13,913,891 shares. The stock had previously closed at $32.70.

Analysts Set New Price Targets

JD has been the topic of several recent analyst reports. Arete Research upgraded JD.com to a "hold" rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. lowered their price objective on shares of JD.com from $48.00 to $42.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 27th. Macquarie restated a "neutral" rating and set a $35.00 price objective on shares of JD.com in a research report on Wednesday, April 23rd. Benchmark decreased their price objective on JD.com from $58.00 to $53.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Finally, Citigroup restated a "buy" rating and set a $51.00 price objective (down from $56.00) on shares of JD.com in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.38.

JD.com Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 1.26. The firm has a market cap of $49.49 billion, a P/E ratio of 7.63, a P/E/G ratio of 1.18 and a beta of 0.48. The company has a 50-day moving average of $33.25 and a 200 day moving average of $36.67.

Institutional Investors Weigh In On JD.com

A number of hedge funds have recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in JD.com during the 4th quarter worth approximately $270,000. Steward Partners Investment Advisory LLC lifted its position in JD.com by 91.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,156 shares of the information services provider's stock worth $75,000 after buying an additional 1,031 shares in the last quarter. Raymond James Financial Inc. acquired a new position in JD.com during the 4th quarter worth about $2,363,000. PNC Financial Services Group Inc. lifted its position in JD.com by 5.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 55,176 shares of the information services provider's stock worth $1,913,000 after buying an additional 2,751 shares in the last quarter. Finally, Amundi lifted its position in JD.com by 56.3% during the 4th quarter. Amundi now owns 834,307 shares of the information services provider's stock worth $28,967,000 after buying an additional 300,517 shares in the last quarter. Institutional investors and hedge funds own 15.98% of the company's stock.

JD.com Company Profile

JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.