PPDAI Group (NYSE:FINV) Reaches New 52-Week Low – Should You Sell?

Shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $2.80 and last traded at $2.9060, with a volume of 2,295,532 shares. The stock had previously closed at $3.07.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FINV. Weiss Ratings cut PPDAI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Citigroup restated a “neutral” rating and issued a $4.10 price target (down from $8.10) on shares of PPDAI Group in a research note on Friday, August 28th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $4.10.

PPDAI Group Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.84 and a quick ratio of 2.84. The stock has a market capitalization of $707.00 million, a P/E ratio of 2.74 and a beta of 0.33. The company has a fifty day moving average of $3.48 and a two-hundred day moving average of $4.39.

PPDAI Group (NYSE:FINV) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.28 earnings per share 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 Inflows and Outflows

An institutional investor recently bought a new position in PPDAI Group stock. Squarepoint Ops LLC acquired a new position in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 24,880 shares of the company’s stock, valued at approximately $119,000. 31.15% of the stock is owned by hedge funds and other institutional investors.

PPDAI Group Company Profile

PPDAI Group Inc, now known as FinVolution Group, is a Chinese fintech company that operates an online consumer finance platform. The company uses technology, data analytics and risk-management tools to connect individual borrowers with funding sources and facilitate unsecured consumer loans.

Its services generally include borrower acquisition, credit assessment, loan matching and facilitation, payment processing, and post-loan management. FinVolution serves consumers who may have limited access to traditional banking services and works with institutional funding partners and other financial institutions through its technology platform.

Founded in 2007, the company was originally known as PPDAI and later adopted the FinVolution name as part of its broader technology and international strategy.