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

Qudian Inc. (NYSE:QD) shares were up 6.5% during mid-day trading on Wednesday . The stock traded as high as $3.04 and last traded at $3.03. Approximately 330,000 shares changed hands during trading, a decline of 41% from the average daily volume of 560,123 shares. The stock had previously closed at $2.84.

Qudian Stock Performance

The firm has a 50 day moving average price of $2.86 and a 200-day moving average price of $2.56. The company has a market cap of $602.81 million, a P/E ratio of 75.38 and a beta of 0.70.

Institutional Trading of Qudian

Several hedge funds have recently added to or reduced their stakes in QD. Arrowstreet Capital Limited Partnership lifted its position in shares of Qudian by 12.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,242,435 shares of the company’s stock worth $3,504,000 after acquiring an additional 140,517 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Qudian in the 3rd quarter worth approximately $846,000. SG Americas Securities LLC lifted its position in shares of Qudian by 35.1% in the 4th quarter. SG Americas Securities LLC now owns 368,384 shares of the company’s stock worth $1,039,000 after acquiring an additional 95,778 shares during the period. Two Sigma Investments LP lifted its position in shares of Qudian by 28.5% in the 4th quarter. Two Sigma Investments LP now owns 302,316 shares of the company’s stock worth $853,000 after acquiring an additional 67,014 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Qudian by 44.5% in the 4th quarter. Marshall Wace LLP now owns 274,308 shares of the company’s stock worth $774,000 after acquiring an additional 84,532 shares during the period. Institutional investors own 8.10% of the company’s stock.

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.