Weidai (NYSE:WEI) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Weidai (NYSE:WEI) from a hold rating to a sell rating in a research note published on Thursday, ValuEngine reports.

WEI traded down $0.02 during trading hours on Thursday, reaching $8.08. 101 shares of the company’s stock traded hands, compared to its average volume of 885. The company’s 50-day moving average price is $8.78. Weidai has a 52-week low of $8.00 and a 52-week high of $13.63.

Weidai (NYSE:WEI) last issued its earnings results on Tuesday, June 4th. The company reported $0.22 earnings per share for the quarter. The firm had revenue of $141.51 million for the quarter.

Hedge funds and other institutional investors have recently modified their holdings of the business. Barings LLC bought a new stake in Weidai during the 1st quarter valued at $347,000. Millennium Management LLC bought a new stake in Weidai during the 4th quarter valued at $429,000. Finally, FMR LLC bought a new stake in Weidai during the 4th quarter valued at $4,682,000. 0.86% of the stock is owned by institutional investors and hedge funds.

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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