Qfin (NASDAQ:QFIN) Sets New 12-Month Low – Time to Sell?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $16.06 and last traded at $16.03, with a volume of 179796 shares traded. The stock had previously closed at $16.40.

Analyst Ratings Changes

Several research analysts recently commented on QFIN shares. Zacks Research cut Qfin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. downgraded shares of Qfin from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $45.00 to $21.00 in a report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qfin in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.85.

Qfin Trading Down 1.3%

The company has a market cap of $2.30 billion, a price-to-earnings ratio of 2.36, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.94 and a quick ratio of 2.94. The business has a 50 day simple moving average of $18.73 and a 200 day simple moving average of $26.02.

Qfin (NASDAQ:QFIN) last announced its earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.16). The company had revenue of $731.04 million for the quarter, compared to analyst estimates of $693.21 million. Qfin had a return on equity of 28.73% and a net margin of 35.09%. As a group, equities analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of QFIN. Aspex Management HK Ltd raised its holdings in Qfin by 30.5% during the 2nd quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company’s stock worth $286,712,000 after buying an additional 1,547,312 shares during the period. Krane Funds Advisors LLC increased its holdings in Qfin by 25.1% during the 3rd quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock worth $182,597,000 after purchasing an additional 1,271,942 shares in the last quarter. Norges Bank acquired a new stake in shares of Qfin in the 2nd quarter valued at about $43,265,000. JPMorgan Chase & Co. lifted its holdings in shares of Qfin by 116.6% in the second quarter. JPMorgan Chase & Co. now owns 1,376,477 shares of the company’s stock valued at $59,684,000 after purchasing an additional 740,888 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Qfin by 1,050.6% during the third quarter. Marshall Wace LLP now owns 790,665 shares of the company’s stock worth $22,755,000 after buying an additional 721,950 shares during the period. Institutional investors own 74.81% of the company’s stock.

About Qfin

360 DigiTech, Inc (NASDAQ: QFIN) is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company’s flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.