Qudian (QD) Shares Gap Up to $5.71

Qudian Inc – (NYSE:QD)’s share price gapped up before the market opened on Monday . The stock had previously closed at $5.58, but opened at $5.71. Qudian shares last traded at $5.55, with a volume of 500386 shares changing hands.

Several brokerages have weighed in on QD. Nomura reaffirmed a “neutral” rating on shares of Qudian in a report on Wednesday, February 27th. Morgan Stanley raised shares of Qudian from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a report on Monday, April 8th. Zacks Investment Research raised shares of Qudian from a “hold” rating to a “strong-buy” rating and set a $6.25 price target on the stock in a report on Thursday, April 11th. Finally, ValuEngine raised shares of Qudian from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.85.

The company has a current ratio of 2.89, a quick ratio of 2.72 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.83 billion, a P/E ratio of 5.08 and a beta of 1.47.

Qudian (NYSE:QD) last released its earnings results on Monday, March 18th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. Qudian had a net margin of 32.10% and a return on equity of 23.87%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, analysts anticipate that Qudian Inc – will post 11.75 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. purchased a new position in shares of Qudian in the fourth quarter worth $29,000. Legal & General Group Plc purchased a new position in shares of Qudian in the third quarter worth $38,000. Mackenzie Financial Corp purchased a new position in shares of Qudian in the fourth quarter worth $58,000. Ayalon Holdings Ltd. lifted its holdings in shares of Qudian by 183.7% in the fourth quarter. Ayalon Holdings Ltd. now owns 17,400 shares of the company’s stock worth $75,000 after buying an additional 11,266 shares in the last quarter. Finally, Virtu Financial LLC lifted its holdings in shares of Qudian by 66.1% in the fourth quarter. Virtu Financial LLC now owns 21,933 shares of the company’s stock worth $94,000 after buying an additional 8,727 shares in the last quarter. 6.41% of the stock is currently owned by hedge funds and other institutional investors.

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About Qudian (NYSE:QD)

Qudian Inc provides online small consumer credit products in the People's Republic of China. It uses big data-enabled technologies, including artificial intelligence and machine learning to transform the consumer finance experience. The company offers cash credit products, such as cash short-term unsecured lines of credit, which are distributed in digital form; and merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis, as well as budget auto financing products.

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