Qudian (NYSE:QD) Shares Up 6.5% – Still a Buy?

Qudian Inc. (NYSE:QD)’s stock price shot up 6.5% on Wednesday . The stock traded as high as $3.04 and last traded at $3.03. 330,000 shares traded hands during trading, a decline of 41% from the average session volume of 560,123 shares. The stock had previously closed at $2.84.

Qudian Stock Up 5.8 %

The stock has a market capitalization of $602.81 million, a price-to-earnings ratio of 75.38 and a beta of 0.70. The firm has a 50-day moving average of $2.86 and a two-hundred day moving average of $2.56.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sei Investments Co. acquired a new position in Qudian in the 4th quarter worth about $30,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Qudian in the 3rd quarter worth about $32,000. Brighton Jones LLC bought a new stake in shares of Qudian during the 4th quarter worth about $34,000. XTX Topco Ltd bought a new stake in shares of Qudian during the 3rd quarter worth about $50,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Qudian during the 4th quarter worth about $57,000. 8.10% of the stock is 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.