JD.com (NASDAQ:JD) Shares Gap Up – Here’s What Happened

Shares of JD.com, Inc. (NASDAQ:JD) gapped up before the market opened on Tuesday . The stock had previously closed at $34.51, but opened at $35.21. JD.com shares last traded at $34.90, with a volume of 1,693,054 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JD shares. Loop Capital upgraded JD.com from a “hold” rating to a “buy” rating and decreased their price target for the company from $49.00 to $48.00 in a research report on Monday, October 21st. Benchmark reiterated a “buy” rating and issued a $47.00 target price on shares of JD.com in a research note on Friday, November 15th. Citigroup lowered their price objective on JD.com from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Sanford C. Bernstein decreased their target price on JD.com from $35.00 to $32.00 and set a “market perform” rating on the stock in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price target on JD.com from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.36.

JD.com Stock Up 2.4 %

The company’s fifty day simple moving average is $38.40 and its 200 day simple moving average is $31.66. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $55.74 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 0.29 and a beta of 0.41.

Institutional Trading of JD.com

A number of hedge funds have recently made changes to their positions in JD. Two Sigma Advisers LP boosted its stake in JD.com by 329.9% in the 3rd quarter. Two Sigma Advisers LP now owns 6,306,700 shares of the information services provider’s stock worth $252,268,000 after purchasing an additional 4,839,700 shares in the last quarter. FMR LLC lifted its stake in shares of JD.com by 41.0% in the third quarter. FMR LLC now owns 15,276,992 shares of the information services provider’s stock worth $611,080,000 after buying an additional 4,445,277 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of JD.com by 65,089.6% in the third quarter. National Bank of Canada FI now owns 2,214,492 shares of the information services provider’s stock worth $88,580,000 after buying an additional 2,211,095 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of JD.com by 117.1% during the third quarter. Point72 Asset Management L.P. now owns 4,033,900 shares of the information services provider’s stock valued at $161,356,000 after buying an additional 2,175,568 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of JD.com during the third quarter valued at approximately $73,311,000. 15.98% of the stock is owned by institutional investors.

JD.com Company Profile

JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.