PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Get Free Report) dropped 5.1% during trading on Wednesday . The company traded as low as $10.09 and last traded at $10.06. Approximately 1,222,070 shares traded hands during mid-day trading, an increase of 28% from the average daily volume of 954,572 shares. The stock had previously closed at $10.60.
Analyst Upgrades and Downgrades
Separately, UBS Group upgraded PPDAI Group from a "neutral" rating to a "buy" rating and raised their price target for the stock from $11.80 to $12.10 in a research report on Friday, May 23rd.
Get Our Latest Research Report on PPDAI Group
PPDAI Group Price Performance
The stock has a 50-day simple moving average of $9.21 and a 200-day simple moving average of $8.50. The stock has a market cap of $2.49 billion, a P/E ratio of 7.18 and a beta of 0.39.
PPDAI Group (NYSE:FINV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The company reported $0.41 EPS for the quarter. PPDAI Group had a return on equity of 18.15% and a net margin of 19.44%. The firm had revenue of $479.70 million for the quarter.
Institutional Investors Weigh In On PPDAI Group
A number of hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new position in shares of PPDAI Group during the second quarter worth approximately $31,000. Quantbot Technologies LP acquired a new position in shares of PPDAI Group during the first quarter worth approximately $62,000. NewEdge Advisors LLC raised its position in shares of PPDAI Group by 381.1% during the fourth quarter. NewEdge Advisors LLC now owns 12,624 shares of the company's stock worth $86,000 after purchasing an additional 10,000 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of PPDAI Group during the fourth quarter worth approximately $90,000. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of PPDAI Group during the fourth quarter worth approximately $99,000. 31.15% of the stock is currently owned by institutional investors.
PPDAI Group Company Profile
(
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FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.
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