Qudian (NYSE:QD) Stock Price Down 5.4% - Here's Why

On Friday, Qudian Inc. (NYSE:QD) faced a notable decline in its stock price, falling by 5.4% during trading hours. The shares reached a low of $2.79, before closing at the same price. The trading volume also witnessed a significant drop, with 316,296 shares exchanged, marking a 55% decrease from the average daily volume of 705,330 shares. The previous closing price for Qudian stock was reported at $2.95.

Current Stock Performance

As of now, Qudian has a market capitalization of approximately $561.68 million. The stock features a price-to-earnings (PE) ratio of 73.63 and has a beta of 0.73, indicating relatively less volatility compared to the market. The company's 50-day moving average price stands at $2.48, while the 200-day moving average price is recorded at $2.06.

Institutional Investors Activity

Various institutional investors have been active in modifying their positions in Qudian recently. Dimensional Fund Advisors LP increased its holdings by 31.4% in the second quarter and now owns 1,435,477 shares valued at $2,838,000, having acquired an additional 343,294 shares. Meanwhile, Healthcare of Ontario Pension Plan Trust Fund added a new stake in Qudian during the same quarter worth $1,918,000. Additionally, Connor Clark & Lunn Investment Management Ltd. entered a new position in the third quarter valued at $32,000, and Ballentine Partners LLC expanded its stake by 91.4%, owning now 21,934 shares worth $43,000 after purchasing 10,476 more shares. Lastly, Caprock Group LLC acquired a new investment in Qudian valued around $65,000. Overall, institutional investors hold around 8.10% of the company's stock.

About Qudian

Qudian Inc. is a consumer-oriented technology company based in the People's Republic of China. The company specializes in operating online platforms that offer small consumer credit products. Their services also extend to technology development, research and development, and delivery services.

Investment Consideration

Before deciding to invest in Qudian, it's essential to consider the latest insights from market analysts. Currently, Qudian has a "Hold" rating from analysts, indicating a cautious approach to its stock value. Notably, there are five other stocks identified by top analysts that might present better investment opportunities at this time.

For those interested in tracking which stocks major institutional investors are favoring, it may be beneficial to explore the current market trends and other investment strategies that align with your financial objectives.

Qudian, stocks, decline