Weidai (WEI) Upgraded at ValuEngine

ValuEngine upgraded shares of Weidai (NYSE:WEI) from a sell rating to a hold rating in a research note released on Monday, February 4th.

WEI has been the topic of a number of other reports. Citigroup started coverage on shares of Weidai in a report on Friday, December 14th. They set a buy rating on the stock. Morgan Stanley started coverage on shares of Weidai in a report on Tuesday, December 11th. They set a buy rating and a $13.00 target price on the stock.

Shares of WEI stock traded up $0.30 during trading on Monday, reaching $11.90. The company’s stock had a trading volume of 2,457 shares, compared to its average volume of 5,246. The firm has a market cap of $855.28 million and a PE ratio of 10.82. Weidai has a one year low of $9.14 and a one year high of $13.63.

Weidai (NYSE:WEI) last announced its quarterly earnings data on Tuesday, December 11th. The company reported $0.41 EPS for the quarter. The business had revenue of $150.95 million during the quarter. As a group, equities analysts predict that Weidai will post 1.48 EPS for the current year.

A hedge fund recently bought a new stake in Weidai stock. Millennium Management LLC acquired a new stake in Weidai Ltd (NYSE:WEI) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 46,368 shares of the company’s stock, valued at approximately $429,000. Millennium Management LLC owned about 0.07% of Weidai at the end of the most recent reporting period.

About Weidai

Weidai Ltd., through its subsidiaries, provides auto-backed financing solutions in the People's Republic of China. Its auto-backed financing platform connects borrowers primarily mall and micro enterprise owners with online investors and institutional funding partners. The company was founded in 2011 and is headquartered in Hangzhou, the People's Republic of China.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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