PPDAI Group (NYSE:FINV) Reaches New 52-Week Low – Here’s What Happened

Shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV) hit a new 52-week low on Tuesday . The company traded as low as $3.21 and last traded at $3.26, with a volume of 573764 shares trading hands. The stock had previously closed at $3.30.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FINV. Weiss Ratings raised PPDAI Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 17th. Citigroup reissued a “neutral” rating and set a $4.10 price target (down from $8.10) on shares of PPDAI Group in a research report on Friday, August 28th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, PPDAI Group has a consensus rating of “Hold” and an average target price of $4.10.

PPDAI Group Price Performance

The firm has a 50-day simple moving average of $4.15 and a two-hundred day simple moving average of $4.68. The company has a market capitalization of $777.79 million, a price-to-earnings ratio of 3.02 and a beta of 0.34. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.07.

PPDAI Group (NYSE:FINV) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter. PPDAI Group had a return on equity of 12.31% and a net margin of 14.49%.The business had revenue of $500.91 million during the quarter.

Institutional Investors Weigh In On PPDAI Group

An institutional investor recently bought a new position in PPDAI Group stock. Engineers Gate Manager LP bought a new stake in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,543 shares of the company’s stock, valued at approximately $122,000. Hedge funds and other institutional investors own 31.15% of the company’s stock.

PPDAI Group Company Profile

PPDAI Group, now known as FinVolution Group, is a Chinese fintech company that operates an online consumer finance platform. The company uses technology, data analytics and automated risk-management tools to facilitate unsecured personal loans for underserved borrowers who may have limited access to traditional banking services.

Its platform connects borrowers with funding partners and supports the digital lending process, including customer acquisition, credit assessment, loan matching, account management and repayment services.