PPDAI Group (NYSE:FINV) Stock Falls 3.4% – Should You Sell?

PPDAI Group Inc. Sponsored ADR (NYSE:FINV) shares traded down 3.4% during trading on Tuesday. The stock traded as low as $2.98 and last traded at $2.9650. 813,082 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 1,013,175 shares. The stock had previously closed at $3.07.

Analyst Ratings Changes

A number of research firms have issued reports on FINV. Citigroup reiterated a “neutral” rating and issued a $4.10 target price (down from $8.10) on shares of PPDAI Group in a research note on Friday, August 28th. Weiss Ratings cut PPDAI Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $4.10.

PPDAI Group Trading Down 7.3%

The company has a market cap of $692.16 million, a price-to-earnings ratio of 2.68 and a beta of 0.33. The business’s 50 day moving average price is $3.51 and its 200-day moving average price is $4.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.84 and a current ratio of 2.84.

PPDAI Group (NYSE:FINV) last issued its quarterly earnings results 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 for the quarter.

Institutional Investors Weigh In On PPDAI Group

A hedge fund recently bought a new stake in PPDAI Group stock. Engineers Gate Manager LP purchased a new position in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 25,543 shares of the company’s stock, valued at approximately $122,000. 31.15% of the stock is currently owned by institutional investors and hedge funds.

About PPDAI Group

PPDAI Group Inc, now known as FinVolution Group, is a Chinese fintech company that operates an online consumer finance platform. The company uses technology, data analytics and risk-management tools to connect individual borrowers with funding sources and facilitate unsecured consumer loans.

Its services generally include borrower acquisition, credit assessment, loan matching and facilitation, payment processing, and post-loan management. FinVolution serves consumers who may have limited access to traditional banking services and works with institutional funding partners and other financial institutions through its technology platform.

Founded in 2007, the company was originally known as PPDAI and later adopted the FinVolution name as part of its broader technology and international strategy.