JD.com (NASDAQ:JD) Shares Gap Down – Here’s Why

JD.com, Inc. (NASDAQ:JD)’s share price gapped down prior to trading on Friday . The stock had previously closed at $36.13, but opened at $35.20. JD.com shares last traded at $34.95, with a volume of 1,712,188 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on JD. JPMorgan Chase & Co. boosted their price target on JD.com from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Loop Capital upgraded shares of JD.com from a “hold” rating to a “buy” rating and lowered their target price for the company from $49.00 to $48.00 in a research note on Monday, October 21st. Benchmark reiterated a “buy” rating and issued a $47.00 price target on shares of JD.com in a research note on Friday, November 15th. Citigroup lowered their price objective on shares of JD.com from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Sanford C. Bernstein upgraded shares of JD.com from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $43.00 to $46.00 in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.36.

JD.com Stock Performance

The firm’s 50 day simple moving average is $37.57 and its 200 day simple moving average is $32.60. The firm has a market cap of $55.17 billion, a PE ratio of 11.07, a PEG ratio of 0.30 and a beta of 0.38. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On JD.com

A number of institutional investors and hedge funds have recently made changes to their positions in JD. Atlas Capital Advisors LLC purchased a new position in shares of JD.com in the 2nd quarter worth approximately $28,000. Wilmington Savings Fund Society FSB bought a new position in JD.com during the third quarter valued at $49,000. Huntington National Bank raised its stake in shares of JD.com by 32.1% in the third quarter. Huntington National Bank now owns 1,861 shares of the information services provider’s stock valued at $74,000 after acquiring an additional 452 shares during the period. Transamerica Financial Advisors Inc. bought a new stake in shares of JD.com in the 3rd quarter worth about $103,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of JD.com by 58.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,990 shares of the information services provider’s stock worth $120,000 after purchasing an additional 1,102 shares during the period. 15.98% of the stock is owned by hedge funds and other institutional investors.

About JD.com

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.