Qudian (NYSE:QD) Shares Rise 6.1% - Is This the Right Moment to Invest?

Qudian Inc. (NYSE:QD) has seen its stock price increase by 6.1% during trading on Friday, reaching a high of $2.87 and finally closing at $2.88. In total, 189,808 shares were traded, which is 23% lower than the average volume of 245,758 shares. The previous closing price for the stock was $2.71.

Qudian Stock Performance

The current fifty-day moving average for Qudian's stock is $2.73, while the two-hundred-day moving average stands at $2.24. The company maintains a market capitalization of approximately $576.73 million, with a price-to-earnings ratio of 71.63 and a beta value of 0.76, indicating lower volatility compared to the broader market.

Recent Institutional Activity

Recently, several institutional investors have adjusted their holdings in Qudian. Notably, Dimensional Fund Advisors LP raised its stake by 31.4% in the second quarter, now owning 1,435,477 shares valued at about $2,838,000 after acquiring an additional 343,294 shares. Additionally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position worth approximately $1,918,000 during the same period. In the third quarter, Connor Clark & Lunn Investment Management Ltd. and BNP Paribas Financial Markets also made new investments and significantly increased their stakes, respectively. Overall, hedge funds and other institutional investors currently hold 8.10% of Qudian's stock.

About Qudian Inc.

Qudian Inc. specializes in consumer technology within the People's Republic of China, primarily focusing on online platforms that offer small consumer credit products. The company is involved in the development of technology and research services, in addition to providing delivery services.

Is Qudian a Good Investment Opportunity?

While Qudian has recently experienced some upward momentum, analysts currently rate the stock as a "Hold." Investors looking for potentially more favorable opportunities may want to consider other stocks that top analysts are currently highlighting. Market analysis indicates that there are five stocks that are being recommended for purchase ahead of Qudian.

Qudian, Stocks, Invest