PPDAI Group (NYSE:FINV) Reaches New 52-Week Low – Here’s What Happened
by Danessa Lincoln · The Markets DailyShares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV – Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $3.21 and last traded at $3.26, with a volume of 573764 shares trading hands. The stock had previously closed at $3.30.
Analyst Upgrades and Downgrades
A number of research firms recently commented on FINV. Weiss Ratings raised PPDAI Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 17th. Citigroup reissued a “neutral” rating and set a $4.10 price target (down from $8.10) on shares of PPDAI Group in a research report on Friday, August 28th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, PPDAI Group has a consensus rating of “Hold” and an average target price of $4.10.
View Our Latest Research Report on PPDAI Group
PPDAI Group Price Performance
The firm has a 50-day simple moving average of $4.15 and a two-hundred day simple moving average of $4.68. The company has a market capitalization of $777.79 million, a price-to-earnings ratio of 3.02 and a beta of 0.34. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.07.
PPDAI Group (NYSE:FINV – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter. PPDAI Group had a return on equity of 12.31% and a net margin of 14.49%.The business had revenue of $500.91 million during the quarter.
Institutional Investors Weigh In On PPDAI Group
An institutional investor recently bought a new position in PPDAI Group stock. Engineers Gate Manager LP bought a new stake in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,543 shares of the company’s stock, valued at approximately $122,000. Hedge funds and other institutional investors own 31.15% of the company’s stock.
PPDAI Group Company Profile
PPDAI Group, now known as FinVolution Group, is a Chinese fintech company that operates an online consumer finance platform. The company uses technology, data analytics and automated risk-management tools to facilitate unsecured personal loans for underserved borrowers who may have limited access to traditional banking services.
Its platform connects borrowers with funding partners and supports the digital lending process, including customer acquisition, credit assessment, loan matching, account management and repayment services.