The stock of Qudian Inc. (NYSE:QD) is now priced at $1.59 and the shares are -0.08 points down or -4.79% lower compared to its previous closing price of $1.67. The stock had 3.174 million contracts set over the past session. QD shares’ daily volume is compared to its average trading volume at 5.395 million shares. However, it has a float of 151 million and although its performance was -7.56% over the week, it’s one to watch. Analysts have given the QD stock a yearly average price target of $1.54 per share. It means the stock’s downside potential is -3.14% with the QD share price recently placing at $1.55 to $1.66. However, some brokerage firms have priced the stock below the average, including one that has called $¥7.00.
The shorts are running away from the Qudian Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the QD shares have declined. Short interest in the stock represents just 9.53% of its float, but the volume has dropped by 0.
In the last trading session, Qudian Inc. (NYSE:QD) dropped by -$0.13 over the week and lost -$0.08 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $8.4. The stock recorded its established 52-week high on 09/05/19.
Since 03/19/20, the stock has traded to a low of $1.21 at 31.4%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Qudian Inc.’s two-week RSI is 44.89. This suggests that the stock is neutral at the moment and that QD shares’ price movement remains stable. The stochastic readings are equally revealing at 23.28% meaning the QD share price is currently in overbought territory.
The technical chart shows that the QD stock will likely settle at between $1.65 and $1.71 per share. However, if the stock dips below $1.54, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.49.
Currently, the stock is trading in the red of MACD, with a reading of -0.0111. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Citigroup cut their recommendation for QD from Neutral to Sell in June 04 review. Nomura analysts downgraded their recommendation of the stock from Neutral to Reduce in a flash note released to investors on January 22. Credit Suisse seeing the stock struggling downgraded it from Outperform to Neutral on January 22.
The average rating for the QD equity is 3.44 and is currently gathering a bearish momentum. Of 9 analysts tracking Qudian Inc. polled by Reuters, 5 rated QD as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 4 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the QD stock price is 2.35X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 1.9 below the group’s average of 35.1. Qudian Inc. has its P/E ratio at 0.3, which means that the stock is currently trading at a discount relative to the 5.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Qudian Inc. (NYSE:QD) will decrease by about -99.93%, which will see them reach $106 million. The company’s full-year revenues are, however, expected to diminish by about -56.06%, down from $1260 million to $554 million. QD’s expected adjusted earnings should drop almost -114.04% to end up at -$0.08 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -109.43% to record -$0.15/share.