Qudian (NYSE:QD) Sees Large Volume Increase - Time to Buy?

Key Points

• Qudian Inc. experienced a significant increase in trading volume, with 1,121,348 shares traded, up 160% from the previous session.
• The stock was upgraded by UBS Group to a "buy" rating, while Wall Street Zen upgraded to a "hold" rating on June 6th.
• Qudian reported a quarterly earnings per share (EPS) of $0.12, with a net margin of 170.45% and revenue of $3.55 million.

Qudian Inc. - Sponsored ADR (NYSE:QD - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 1,121,348 shares changed hands during trading, an increase of 160% from the previous session's volume of 431,045 shares.The stock last traded at $3.79 and had previously closed at $3.48.

Analysts Set New Price Targets

Several research firms have recently weighed in on QD. UBS Group upgraded Qudian to a "buy" rating in a report on Friday, June 6th. Wall Street Zen upgraded Qudian from a "sell" rating to a "hold" rating in a report on Friday, June 6th.

Qudian Trading Down 2.2%

The business has a 50-day moving average of $3.14 and a 200 day moving average of $2.89. The firm has a market capitalization of $666.33 million, a PE ratio of 16.46 and a beta of 0.68.

Qudian (NYSE:QD - Get Free Report) last released its quarterly earnings results on Friday, May 30th. The company reported $0.12 earnings per share for the quarter. Qudian had a return on equity of 2.79% and a net margin of 170.45%. The firm had revenue of $3.55 million for the quarter.

Hedge Funds Weigh In On Qudian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. increased its position in Qudian by 32.4% in the first quarter. Asset Management One Co. Ltd. now owns 36,769 shares of the company's stock worth $99,000 after buying an additional 8,991 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Qudian by 28.5% in the fourth quarter. Two Sigma Investments LP now owns 302,316 shares of the company's stock worth $853,000 after acquiring an additional 67,014 shares during the period. Bank of America Corp DE boosted its stake in shares of Qudian by 17.1% in the fourth quarter. Bank of America Corp DE now owns 54,351 shares of the company's stock worth $153,000 after acquiring an additional 7,951 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Qudian by 31.7% in the fourth quarter. BNP Paribas Financial Markets now owns 37,671 shares of the company's stock worth $106,000 after acquiring an additional 9,070 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in shares of Qudian in the fourth quarter worth about $442,000. Hedge funds and other institutional investors own 8.10% of the company's stock.

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.