Qudian (NYSE:QD) Stock Price Down 5.4% – Here’s What Happened

Qudian Inc. (NYSE:QD)’s stock price was down 5.4% during trading on Friday . The company traded as low as $2.79 and last traded at $2.79. Approximately 316,296 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 705,330 shares. The stock had previously closed at $2.95.

Qudian Price Performance

The company’s 50-day moving average price is $2.49 and its two-hundred day moving average price is $2.07. The company has a market capitalization of $563.69 million, a price-to-earnings ratio of 70.25 and a beta of 0.73.

Institutional Trading of Qudian

A number of large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Qudian in the 3rd quarter valued at about $32,000. Ballentine Partners LLC lifted its stake in Qudian by 91.4% in the second quarter. Ballentine Partners LLC now owns 21,934 shares of the company’s stock valued at $43,000 after buying an additional 10,476 shares during the period. XTX Topco Ltd bought a new position in shares of Qudian during the 3rd quarter worth approximately $50,000. BNP Paribas Financial Markets boosted its holdings in shares of Qudian by 248.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 28,601 shares of the company’s stock worth $61,000 after buying an additional 20,400 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Qudian during the 2nd quarter worth approximately $65,000. 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.