JD.com (NASDAQ:JD) Shares Gap Down – Here’s Why

JD.com, Inc. (NASDAQ:JD)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $39.56, but opened at $38.29. JD.com shares last traded at $38.06, with a volume of 1,183,132 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their target price on JD.com from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Citigroup reduced their price objective on JD.com from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Sanford C. Bernstein upgraded JD.com from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $43.00 to $46.00 in a research note on Monday. Benchmark restated a “buy” rating and set a $47.00 price target on shares of JD.com in a research report on Friday, November 15th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $28.00 price objective on shares of JD.com in a research report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, JD.com has a consensus rating of “Moderate Buy” and a consensus target price of $41.36.

JD.com Trading Down 3.4 %

The firm’s 50 day moving average is $39.26 and its 200 day moving average is $32.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.17 and a quick ratio of 0.90. The company has a market cap of $60.25 billion, a PE ratio of 12.01, a PEG ratio of 0.30 and a beta of 0.38.

Hedge Funds Weigh In On JD.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Polunin Capital Partners Ltd lifted its holdings in shares of JD.com by 27.8% during the 3rd quarter. Polunin Capital Partners Ltd now owns 2,058,917 shares of the information services provider’s stock worth $82,291,000 after acquiring an additional 447,264 shares during the last quarter. Seven Grand Managers LLC purchased a new stake in JD.com during the third quarter valued at about $16,800,000. Citigroup Inc. lifted its stake in JD.com by 9.9% during the third quarter. Citigroup Inc. now owns 400,294 shares of the information services provider’s stock worth $16,012,000 after purchasing an additional 36,096 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of JD.com by 55.8% in the 3rd quarter. SG Americas Securities LLC now owns 94,255 shares of the information services provider’s stock worth $3,770,000 after purchasing an additional 33,771 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. increased its position in shares of JD.com by 5.9% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,577,138 shares of the information services provider’s stock valued at $143,086,000 after purchasing an additional 200,200 shares during the last quarter. 15.98% of the stock is currently owned by hedge funds and other institutional investors.

About JD.com

JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.