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

PPDAI Group Inc. Sponsored ADR (NYSE:FINV)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $2.80 and last traded at $2.9060, with a volume of 2,295,532 shares. The stock had previously closed at $3.07.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FINV shares. Weiss Ratings downgraded shares of PPDAI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Citigroup restated a “neutral” rating and set a $4.10 price target (down from $8.10) on shares of PPDAI Group in a report on Friday, August 28th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $4.10.

PPDAI Group Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.84 and a current ratio of 2.84. The business has a 50 day moving average price of $3.42 and a 200-day moving average price of $4.36. The company has a market capitalization of $743.01 million, a price-to-earnings ratio of 2.88 and a beta of 0.33.

PPDAI Group (NYSE:FINV) last released its earnings results on Friday, August 14th. The company reported $0.28 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.

Hedge Funds Weigh In On PPDAI Group

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new stake in shares of PPDAI Group during the 2nd quarter worth approximately $119,000. Engineers Gate Manager LP bought a new stake in shares of PPDAI Group in the 2nd quarter valued at $122,000. Finally, Ramsey Quantitative Systems increased its stake in shares of PPDAI Group by 126.8% in the 3rd quarter. Ramsey Quantitative Systems now owns 88,000 shares of the company’s stock valued at $267,000 after acquiring an additional 49,200 shares in the last quarter. 31.15% of the stock is currently owned by institutional investors.

PPDAI Group Company Profile

PPDAI Group, now known as FinVolution Group, is a Chinese fintech company that operates an online consumer finance platform. Founded in 2007, the company uses technology, data analytics and risk-management systems to facilitate personal finance services for consumers, particularly borrowers who may have limited access to traditional banking products.

FinVolution’s platform connects borrowers with funding sources and provides digital loan origination, credit assessment, risk management, loan servicing and other technology-enabled services.