Qfin (NASDAQ:QFIN) Hits New 12-Month Low – Here’s What Happened

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) reached a new 52-week low on Thursday . The company traded as low as $11.25 and last traded at $11.5150, with a volume of 420114 shares. The stock had previously closed at $11.79.

Analyst Ratings Changes

A number of brokerages have recently commented on QFIN. Zacks Research upgraded Qfin from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings lowered Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft set a $13.00 target price on Qfin in a report on Wednesday, August 12th. JPMorgan Chase & Co. dropped their target price on Qfin from $14.50 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. Finally, Bank of America reiterated a “neutral” rating and issued a $15.33 target price on shares of Qfin in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.31.

Qfin Stock Up 1.0%

The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03. The stock’s 50-day simple moving average is $13.81 and its 200 day simple moving average is $13.99. The firm has a market cap of $1.41 billion, a P/E ratio of 2.12 and a beta of 0.63.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings data on Friday, May 15th. The company reported $1.12 earnings per share for the quarter. The firm had revenue of $567.01 million during the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%. As a group, research analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 3.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Qfin news, Director Xiaohuan Chen bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $14.41 per share, with a total value of $57,640.00. Following the completion of the purchase, the director directly owned 19,000 shares of the company’s stock, valued at approximately $273,790. This trade represents a 26.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 17.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Qfin

A number of institutional investors and hedge funds have recently modified their holdings of QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Qfin during the 1st quarter worth approximately $29,000. SBI Securities Co. Ltd. increased its stake in shares of Qfin by 6,796.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after acquiring an additional 1,903 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Qfin by 415.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock valued at $51,000 after acquiring an additional 2,125 shares during the period. Parallel Advisors LLC lifted its position in shares of Qfin by 24.1% during the 4th quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock valued at $65,000 after acquiring an additional 656 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Qfin by 23.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock valued at $103,000 after acquiring an additional 1,016 shares during the period. 74.81% of the stock is currently owned by institutional investors.

Qfin Company Profile

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.