Qiwi (NASDAQ:QIWI) Sees Strong Trading Volume

Qiwi PLC (NASDAQ:QIWI) saw unusually-high trading volume on Tuesday . Approximately 321,550 shares were traded during trading, a decline of 3% from the previous session’s volume of 332,293 shares.The stock last traded at $22.74 and had previously closed at $23.08.

QIWI has been the topic of several analyst reports. ValuEngine raised shares of Qiwi from a “strong sell” rating to a “sell” rating in a report on Tuesday. BidaskClub raised shares of Qiwi from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research downgraded shares of Qiwi from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised shares of Qiwi from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $20.00 in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.00.

The firm has a market cap of $1.41 billion, a P/E ratio of 23.84 and a beta of 1.14. The stock’s 50-day simple moving average is $20.34 and its two-hundred day simple moving average is $16.74.

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Qiwi by 855.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,364,894 shares of the credit services provider’s stock worth $19,641,000 after buying an additional 1,222,072 shares during the period. Acadian Asset Management LLC increased its position in shares of Qiwi by 159.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,309,778 shares of the credit services provider’s stock worth $25,635,000 after purchasing an additional 804,753 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Qiwi by 62.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,271,138 shares of the credit services provider’s stock worth $24,876,000 after purchasing an additional 486,758 shares during the last quarter. ETF Managers Group LLC increased its position in shares of Qiwi by 247.1% during the 2nd quarter. ETF Managers Group LLC now owns 607,652 shares of the credit services provider’s stock worth $12,165,000 after purchasing an additional 432,562 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in shares of Qiwi by 143.6% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 341,000 shares of the credit services provider’s stock worth $6,644,000 after purchasing an additional 201,000 shares during the last quarter. Institutional investors and hedge funds own 27.36% of the company’s stock.

About Qiwi (NASDAQ:QIWI)

Qiwi plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally. The company offers payment services across online, mobile, and physical channels through a network of approximately 109,000 kiosks and 43,000 terminals that run its proprietary software.

Further Reading: How to Use a Moving Average for Trading 

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