Qunar Cayman Islands Ltd (QUNR) Sees Strong Trading Volume
Qunar Cayman Islands Ltd (NASDAQ:QUNR) saw an uptick in trading volume on Monday . 139,897 shares were traded during mid-day trading, an increase of 18% from the previous session’s volume of 118,506 shares.The stock last traded at $29.84 and had previously closed at $29.79.
A number of research firms recently issued reports on QUNR. Credit Agricole SA lowered Qunar Cayman Islands from an “underperform” rating to a “sell” rating in a research note on Wednesday, May 4th. Morgan Stanley reduced their target price on Qunar Cayman Islands from $40.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Monday, June 20th. Finally, Zacks Investment Research lowered Qunar Cayman Islands from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.56.
The company has a 50 day moving average price of $29.70 and a 200-day moving average price of $34.81. The stock’s market capitalization is $4.35 billion.
Qunar Cayman Islands (NASDAQ:QUNR) last posted its quarterly earnings data on Wednesday, June 15th. The company reported ($1.13) EPS for the quarter, topping analysts’ consensus estimates of ($2.51) by $1.38. Analysts predict that Qunar Cayman Islands Ltd will post ($0.68) earnings per share for the current year.
Other large investors recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in Qunar Cayman Islands by 129.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 82,489 shares of the company’s stock worth $4,350,000 after buying an additional 46,599 shares during the last quarter. Wells Fargo & Company MN bought a new stake in Qunar Cayman Islands during the fourth quarter worth about $24,524,000. Finally, Swiss National Bank bought a new stake in Qunar Cayman Islands during the fourth quarter worth about $1,471,000.
Qunar Cayman Islands Limited (Qunar) is engaged in offering mobile and online commerce platform for travel in China. The Company offers a range of travel products, including flights, hotels, vacations packages, attraction tickets and other travel related offerings. The Company has developed Qunar Travel, its mobile application, which enables its users to search for and purchase travel products.
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