Qudian (NYSE:QD) Reaches New 12-Month High – Should You Buy?

Shares of Qudian Inc. (NYSE:QD) reached a new 52-week high during trading on Tuesday . The company traded as high as $2.61 and last traded at $2.61, with a volume of 888852 shares traded. The stock had previously closed at $2.29.

Qudian Stock Performance

The company has a market capitalization of $609.83 million, a price-to-earnings ratio of 76.00 and a beta of 0.60. The business’s 50 day moving average is $2.27 and its 200 day moving average is $1.98.

Qudian (NYSE:QD) last issued its quarterly earnings results on Friday, September 6th. The company reported $0.07 EPS for the quarter. Qudian had a return on equity of 0.36% and a net margin of 18.32%. The company had revenue of $7.34 million during the quarter.

Institutional Investors Weigh In On Qudian

Several hedge funds have recently added to or reduced their stakes in QD. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Qudian during the 3rd quarter valued at about $32,000. Ballentine Partners LLC increased its holdings in shares of Qudian by 91.4% during the 2nd quarter. Ballentine Partners LLC now owns 21,934 shares of the company’s stock valued at $43,000 after purchasing an additional 10,476 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Qudian in the 3rd quarter valued at $50,000. BNP Paribas Financial Markets boosted its holdings in Qudian by 248.8% during the third 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 purchased a new stake in Qudian during the second quarter worth $65,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.