PPDAI Group (NYSE:FINV) Hits New 52-Week Low – Here’s Why

PPDAI Group Inc. Sponsored ADR (NYSE:FINV) shares hit a new 52-week low on Wednesday. The stock traded as low as $2.80 and last traded at $2.8350, with a volume of 370,133 shares. The stock had previously closed at $2.88.

Analyst Ratings Changes

Several research firms have recently weighed in on FINV. Citigroup lowered PPDAI Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $8.10 to $4.10 in a research note on Friday, August 28th. Weiss Ratings lowered PPDAI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PPDAI Group presently has an average rating of “Reduce” and an average target price of $4.10.

PPDAI Group Stock Up 3.0%

The stock has a market cap of $709.19 million, a P/E ratio of 2.74 and a beta of 0.33. The stock’s 50-day moving average is $3.29 and its 200-day moving average is $4.59. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.07.

PPDAI Group (NYSE:FINV) last released its earnings results on Friday, August 14th. The company reported $0.28 EPS for the quarter. PPDAI Group had a net margin of 14.49% and a return on equity of 12.31%. The firm had revenue of $500.91 million during the quarter.

Hedge Funds Weigh In On PPDAI Group

Several large investors have recently modified their holdings of FINV. Park Avenue Securities LLC bought a new position in PPDAI Group in the third quarter worth approximately $31,000. Ramsey Quantitative Systems boosted its stake in PPDAI Group by 126.8% in the 3rd quarter. Ramsey Quantitative Systems now owns 88,000 shares of the company’s stock worth $267,000 after purchasing an additional 49,200 shares during the period. Engineers Gate Manager LP bought a new stake in PPDAI Group during the second quarter valued at $122,000. Finally, Squarepoint Ops LLC bought a new stake in PPDAI Group during the second quarter worth about $119,000. Institutional investors own 31.15% of the company’s stock.

About PPDAI Group

PPDAI Group, now known as FinVolution Group, is a Chinese fintech company that operates an online consumer finance platform. Founded in 2007, the company uses technology, data analytics and risk-management systems to facilitate personal finance services for consumers, particularly borrowers who may have limited access to traditional banking products.

FinVolution’s platform connects borrowers with funding sources and provides digital loan origination, credit assessment, risk management, loan servicing and other technology-enabled services.