Weidai’s (NYSE:WEI) lock-up period will expire on Tuesday, May 14th. Weidai had issued 4,500,000 shares in its public offering on November 15th. The total size of the offering was $45,000,000 based on an initial share price of $10.00. After the expiration of Weidai’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
Separately, ValuEngine raised shares of Weidai from a “sell” rating to a “hold” rating in a report on Monday, February 4th.
Shares of Weidai stock opened at $9.93 on Monday. Weidai has a fifty-two week low of $9.14 and a fifty-two week high of $13.63. The firm has a market capitalization of $695.00 million and a price-to-earnings ratio of 6.25.
A number of institutional investors have recently modified their holdings of the business. Barings LLC bought a new stake in Weidai in the 1st quarter valued at $347,000. Millennium Management LLC bought a new position in shares of Weidai during the 4th quarter worth about $429,000. Finally, FMR LLC bought a new position in shares of Weidai during the 4th quarter worth about $4,682,000. 0.80% of the stock is owned by hedge funds and other institutional investors.
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Weidai Ltd., through its subsidiaries, provides auto-backed financing solutions in the People's Republic of China. Its auto-backed financing platform connects borrowers primarily mall and micro enterprise owners with online investors and institutional funding partners. The company was founded in 2011 and is headquartered in Hangzhou, the People's Republic of China.
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