Qudian (NYSE:QD) Trading 6.3% Higher – Here’s Why

Shares of Qudian Inc. (NYSE:QD) rose 6.3% on Thursday . The stock traded as high as $3.22 and last traded at $3.23. Approximately 314,705 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 339,943 shares. The stock had previously closed at $3.04.

Qudian Stock Performance

The firm’s 50-day simple moving average is $2.87 and its 200 day simple moving average is $2.43. The company has a market cap of $594.78 million, a P/E ratio of 74.13 and a beta of 0.72.

Qudian (NYSE:QD) last announced its earnings results on Friday, November 22nd. The company reported $0.10 earnings per share for the quarter. Qudian had a net margin of 18.32% and a return on equity of 0.36%.

Hedge Funds Weigh In On Qudian

A number of large investors have recently modified their holdings of QD. Sei Investments Co. bought a new position in Qudian in the 4th quarter valued at about $30,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Qudian in the 3rd quarter valued at about $32,000. Brighton Jones LLC bought a new position in Qudian in the 4th quarter valued at about $34,000. XTX Topco Ltd bought a new position in Qudian in the 3rd quarter valued at about $50,000. Finally, SBI Securities Co. Ltd. bought a new position in Qudian in the 4th quarter valued at about $57,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.