PPDAI Group (NYSE:FINV) Shares Down 3.4% – What’s Next?

PPDAI Group Inc. Sponsored ADR (NYSE:FINV) traded down 3.4% during mid-day trading on Tuesday. The company traded as low as $2.98 and last traded at $2.9650. Approximately 813,082 shares changed hands during trading, a decline of 20% from the average session volume of 1,013,175 shares. The stock had previously closed at $3.07.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FINV shares. Citigroup reissued 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. Weiss Ratings cut PPDAI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $4.10.

PPDAI Group Stock Up 3.6%

The stock has a market cap of $731.09 million, a PE ratio of 2.83 and a beta of 0.33. The firm has a fifty day moving average of $3.45 and a 200 day moving average of $4.38. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.07.

PPDAI Group (NYSE:FINV) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.28 earnings per share for the quarter. The company 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 Investors Weigh In On PPDAI Group

An institutional investor recently bought a new stake in PPDAI Group stock. Engineers Gate Manager LP bought a new position in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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. Founded in 2007, the company uses technology, data analytics and risk-management systems to facilitate personal finance services for consumers, particularly borrowers who may have limited access to traditional banking products.

FinVolution’s platform connects borrowers with funding sources and provides digital loan origination, credit assessment, risk management, loan servicing and other technology-enabled services.