Qfin (NASDAQ:QFIN) Reaches New 1-Year Low – What’s Next?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s share price reached a new 52-week low on Monday . The stock traded as low as $14.04 and last traded at $14.6970, with a volume of 213483 shares trading hands. The stock had previously closed at $14.56.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut 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 research note on Wednesday, November 19th. Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qfin in a research note 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $36.85.

Qfin Stock Performance

The company has a market capitalization of $2.18 billion, a PE ratio of 2.23, a PEG ratio of 0.21 and a beta of 0.49. The firm has a 50-day moving average of $16.86 and a two-hundred day moving average of $22.37. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.20.

Institutional Trading of Qfin

A number of hedge funds have recently added to or reduced their stakes in QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Qfin in the 1st quarter worth about $29,000. Hantz Financial Services Inc. raised its holdings in shares of Qfin by 472.9% during the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after acquiring an additional 610 shares during the last quarter. iA Global Asset Management Inc. lifted its position in shares of Qfin by 250.2% in the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock valued at $36,000 after acquiring an additional 588 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Qfin by 6,796.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock worth $37,000 after acquiring an additional 1,903 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Qfin by 415.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock worth $51,000 after purchasing an additional 2,125 shares in the last quarter. 74.81% of the stock is owned by hedge funds and other 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.