Investors Buy Large Volume of Qudian Put Options (NYSE:QD)

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Qudian Inc – (NYSE:QD) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 50,505 put options on the stock. This represents an increase of 6,753% compared to the typical daily volume of 737 put options.

QD stock traded up $0.40 during mid-day trading on Thursday, reaching $7.78. The company had a trading volume of 20,403,842 shares, compared to its average volume of 4,537,863. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.91 and a quick ratio of 2.91. The stock has a market cap of $2.44 billion, a P/E ratio of 6.88 and a beta of 1.57. The business has a 50 day moving average of $7.31. Qudian has a 12 month low of $4.00 and a 12 month high of $9.84.

QD has been the topic of several analyst reports. China Renaissance Securities reiterated a “hold” rating and set a $8.00 price target on shares of Qudian in a report on Tuesday, May 14th. Zacks Investment Research downgraded shares of Qudian from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 11th. TheStreet upgraded shares of Qudian from a “d+” rating to a “c-” rating in a report on Thursday, April 18th. Morgan Stanley upgraded 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. Finally, Nomura reiterated a “neutral” rating on shares of Qudian in a report on Wednesday, February 27th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Qudian currently has an average rating of “Hold” and a consensus target price of $12.85.

A number of hedge funds have recently modified their holdings of the business. Financial Gravity Wealth Inc. bought a new position in shares of Qudian during the first quarter valued at approximately $28,000. Prescott Group Capital Management L.L.C. bought a new position in shares of Qudian during the first quarter valued at approximately $51,000. Mackenzie Financial Corp bought a new position in shares of Qudian during the fourth quarter valued at approximately $58,000. Banco Santander S.A. bought a new position in shares of Qudian during the first quarter valued at approximately $68,000. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of Qudian during the fourth quarter valued at approximately $111,000. Institutional investors and hedge funds own 11.84% of the company’s stock.

Qudian Company Profile

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 small credit products, such as cash credit products; merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis; and budget auto financing products.

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