Market cap of Weidai Ltd. [WEI] reaches 118.24M – now what?

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Weidai Ltd. [NYSE: WEI] jumped around 0.08 points on Thursday, while shares priced at $1.52 at the close of the session, up 5.56%. The company report on October 21, 2020 that Weidai Comments on Unusual Market Activity.

Weidai Ltd. (the “Company” or “Weidai”) (NYSE: WEI), a leading auto-backed financing solution provider in China, is issuing this press release in light of the unusual trading activity related to the American depositary shares (the “ADSs”) of the Company on the New York Stock Exchange (the “NYSE”).

Normally, Weidai does not comment on market activity or rumors. However, Weidai confirms that it is not aware of any undisclosed material change or development in its business and operations or rumors in the market that would account for the recent increase in trading activity, and related increase in trading price, of its ADSs on the NYSE.

Weidai Ltd. stock is now -51.13% down from its year-to-date (YTD) trading value. WEI Stock saw the intraday high of $1.77 and lowest of $1.30 per share. The company’s 52-week high price is 6.40, which means current price is +108.22% above from all time high which was touched on 10/20/20.

Compared to the average trading volume of 4.20M shares, WEI reached a trading volume of 4457496 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Weidai Ltd. [WEI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WEI shares is $2.16 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WEI stock is a recommendation set at 4.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Weidai Ltd. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 21, 2020. The new note on the price target was released on October 03, 2019, representing the official price target for Weidai Ltd. stock.

The Average True Range (ATR) for Weidai Ltd. is set at 0.44, with the Price to Sales ratio for WEI stock in the period of the last 12 months amounting to 0.23. The Price to Book ratio for the last quarter was 0.31, with the Price to Cash per share for the same quarter was set at 2.09.

How has WEI stock performed recently?

Weidai Ltd. [WEI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.59. With this latest performance, WEI shares gained by 63.79% in over the last four-week period, additionally plugging by 7.79% over the last 6 months – not to mention a drop of -75.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WEI stock in for the last two-week period is set at 48.46, with the RSI for the last a single of trading hit 45.95, and the three-weeks RSI is set at 49.77 for Weidai Ltd. [WEI]. The present Moving Average for the last 50 days of trading for this stock 1.3505, while it was recorded at 1.4860 for the last single week of trading, and 1.4721 for the last 200 days.

Weidai Ltd. [WEI]: Deeper insight into the fundamentals

Weidai Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

Earnings analysis for Weidai Ltd. [WEI]

With the latest financial reports released by the company, Weidai Ltd. posted 0.26/share EPS, while the average EPS was predicted by analysts to be reported at 0.34/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -23.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WEI.

Insider trade positions for Weidai Ltd. [WEI]

1 institutional holders increased their position in Weidai Ltd. [NYSE:WEI] by around 17,107 shares. Additionally, 3 investors decreased positions by around 251,984 shares, while 3 investors held positions by with 18,014 shares. The mentioned changes placed institutional holdings at 251,077 shares, according to the latest SEC report filing. WEI stock had 1 new institutional investments in for a total of 17,107 shares, while 1 institutional investors sold positions of 225 shares during the same period.

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