Weidai (NYSE:WEI) Stock Price Up 0.7%

Weidai Ltd (NYSE:WEI) rose 0.7% on Wednesday . The company traded as high as $6.25 and last traded at $6.11, approximately 3,936 shares traded hands during mid-day trading. An increase of 200% from the average daily volume of 1,314 shares. The stock had previously closed at $6.07.

Separately, ValuEngine lowered shares of Weidai from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.

The stock’s 50-day moving average is $7.33 and its two-hundred day moving average is $9.41.

An institutional investor recently raised its position in Weidai stock. FMR LLC grew its stake in Weidai Ltd (NYSE:WEI) by 2.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 520,064 shares of the company’s stock after buying an additional 14,474 shares during the quarter. FMR LLC owned 0.74% of Weidai worth $6,012,000 as of its most recent filing with the SEC. Institutional investors own 0.82% of the company’s stock.

Weidai Company Profile (NYSE:WEI)

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.

Featured Article: Put Option Volume

Receive News & Ratings for Weidai Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weidai and related companies with MarketBeat.com's FREE daily email newsletter.