Qudian (NYSE:QD) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research downgraded shares of Qudian (NYSE:QD) from a buy rating to a hold rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Qudian Inc. provides online consumer finance platforms primarily in the Peoples Republic of China. The Company offers cash credit products which include funds in digital form and merchandise credit products. Qudian Inc. is headquartered in Beijing, China. “

Other analysts have also issued reports about the company. ValuEngine lowered Qudian from a sell rating to a strong sell rating in a report on Wednesday, October 2nd. BOCOM International assumed coverage on Qudian in a report on Thursday, October 10th. They set a neutral rating and a $6.82 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Qudian has a consensus rating of Hold and an average price target of $7.27.

Shares of Qudian stock opened at $6.48 on Friday. Qudian has a one year low of $4.00 and a one year high of $9.20. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 5.73 and a beta of 1.67. The business has a 50-day simple moving average of $7.23 and a 200 day simple moving average of $7.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.03 and a quick ratio of 3.03.

Qudian (NYSE:QD) last issued its quarterly earnings data on Friday, August 16th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $323.48 million during the quarter. Qudian had a return on equity of 31.21% and a net margin of 44.04%. On average, sell-side analysts expect that Qudian will post 2.29 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. bought a new stake in Qudian during the 2nd quarter worth approximately $120,000. Atria Investments LLC bought a new stake in Qudian during the 2nd quarter worth approximately $110,000. Polunin Capital Partners Ltd bought a new stake in Qudian during the 2nd quarter worth approximately $44,155,000. Royal Bank of Canada boosted its stake in shares of Qudian by 37.8% in the 2nd quarter. Royal Bank of Canada now owns 98,811 shares of the company’s stock worth $741,000 after buying an additional 27,125 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of Qudian in the 2nd quarter worth approximately $1,604,000. 35.76% of the stock is owned by hedge funds and other institutional investors.

Qudian Company Profile

Qudian Inc provides online small consumer credit products in the People's Republic of China. It uses big data-enabled technologies, including artificial intelligence and machine learning to transform the consumer finance experience. The company offers small credit products, such as cash credit products; merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis; and budget auto financing products.

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