PPDAI Group (NYSE:FINV) Hits New 12-Month Low – Here’s What Happened

PPDAI Group Inc. Sponsored ADR (NYSE:FINV)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.22 and last traded at $3.2350, with a volume of 125662 shares traded. The stock had previously closed at $3.27.

Analyst Ratings Changes

Several brokerages recently commented on FINV. Citigroup reiterated 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. Weiss Ratings cut shares of PPDAI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 28th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $4.10.

PPDAI Group Stock Performance

The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $4.26 and its 200 day simple moving average is $4.74. The company has a market cap of $823.53 million, a price-to-earnings ratio of 3.19 and a beta of 0.34.

PPDAI Group (NYSE:FINV) last issued its earnings results on Friday, August 14th. The company reported $0.28 earnings per share for the quarter. The business had revenue of $500.91 million for the quarter. PPDAI Group had a return on equity of 12.31% and a net margin of 14.49%.

Institutional Trading of PPDAI Group

A number of hedge funds and other institutional investors have recently modified their holdings of FINV. Squarepoint Ops LLC acquired a new position in shares of PPDAI Group during the 2nd quarter valued at about $119,000. FourThought Financial Partners LLC acquired a new stake in PPDAI Group during the fourth quarter worth about $120,000. Engineers Gate Manager LP acquired a new stake in PPDAI Group during the second quarter worth about $122,000. Finally, Abacus Wealth Partners LLC purchased a new position in PPDAI Group during the fourth quarter worth about $221,000. 31.15% of the stock is owned by institutional investors and hedge funds.

About PPDAI Group

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.