Qudian (NYSE:QD) Sets New 12-Month High – Should You Buy?

Shares of Qudian Inc. – Sponsored ADR (NYSE:QD) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $3.50 and last traded at $3.50, with a volume of 121466 shares trading hands. The stock had previously closed at $3.39.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on QD shares. Wall Street Zen upgraded shares of Qudian from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. UBS Group raised Qudian to a “buy” rating in a research note on Friday, June 6th.

Qudian Stock Up 2.2%

The company has a market cap of $584.51 million, a P/E ratio of 14.44 and a beta of 0.63. The company’s 50-day moving average is $2.97 and its two-hundred day moving average is $2.82.

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

Hedge Funds Weigh In On Qudian

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in Qudian in the 1st quarter worth $70,000. Invesco Ltd. increased its holdings in Qudian by 2.3% in the 1st quarter. Invesco Ltd. now owns 166,372 shares of the company’s stock valued at $448,000 after acquiring an additional 3,793 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Qudian in the first quarter worth about $30,000. XTX Topco Ltd bought a new position in Qudian during the first quarter valued at $128,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of Qudian by 32.4% in the 1st 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. 8.10% of the stock is owned by institutional investors.

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.