Weidai (NYSE:WEI) Shares Gap Up to $1.90

Weidai Ltd. (NYSE:WEI)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $1.90, but opened at $2.33. Weidai shares last traded at $1.79, with a volume of 4,347 shares traded.

Separately, ValuEngine upgraded Weidai from a “hold” rating to a “buy” rating in a research report on Thursday, August 13th.

The stock has a market cap of $133.86 million, a price-to-earnings ratio of 3.65 and a beta of 1.11. The stock has a 50-day moving average price of $1.11 and a two-hundred day moving average price of $1.31.

An institutional investor recently raised its position in Weidai stock. FMR LLC lifted its position in Weidai Ltd. (NYSE:WEI) by 2.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 520,064 shares of the company’s stock after purchasing an additional 14,474 shares during the quarter. FMR LLC owned 0.74% of Weidai worth $6,012,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.33% of the company’s stock.

Weidai Company Profile (NYSE:WEI)

Weidai Ltd., through its subsidiaries, provides auto-backed financing solutions in the People's Republic of China. Its auto-backed financing platform connects borrowers primarily small and micro enterprise owners with online investors and institutional funding partners. The company was founded in 2011 and is headquartered in Hangzhou, the People's Republic of China.

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