Qudian (NYSE:QD) Stock Price Down 5.4% – Here’s What Happened

Qudian Inc. (NYSE:QD) fell 5.4% during mid-day trading on Friday . The company traded as low as $2.79 and last traded at $2.79. 316,296 shares changed hands during trading, a decline of 55% from the average session volume of 705,330 shares. The stock had previously closed at $2.95.

Qudian Trading Down 5.1 %

The company’s fifty day moving average is $2.48 and its two-hundred day moving average is $2.06. The stock has a market cap of $561.68 million, a price-to-earnings ratio of 73.63 and a beta of 0.73.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ballentine Partners LLC lifted its holdings in shares of Qudian by 91.4% in the second quarter. Ballentine Partners LLC now owns 21,934 shares of the company’s stock valued at $43,000 after purchasing an additional 10,476 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Qudian during the third quarter valued at approximately $32,000. BNP Paribas Financial Markets lifted its stake in shares of Qudian by 248.8% during the third quarter. BNP Paribas Financial Markets now owns 28,601 shares of the company’s stock valued at $61,000 after buying an additional 20,400 shares during the period. XTX Topco Ltd purchased a new position in shares of Qudian during the third quarter valued at approximately $50,000. Finally, Caprock Group LLC purchased a new position in shares of Qudian during the second quarter valued at approximately $65,000. 8.10% of the stock is currently 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.