Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) Short Interest Down 18.2% in February

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) was the target of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 3,594,662 shares, a drop of 18.2% from the February 12th total of 4,395,766 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average trading volume of 2,360,995 shares, the short-interest ratio is presently 1.5 days. Based on an average trading volume of 2,360,995 shares, the short-interest ratio is presently 1.5 days. Approximately 3.1% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

QFIN has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. JPMorgan Chase & Co. lowered Qfin from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $21.00 in a research note on Wednesday, November 19th. Finally, Zacks Research cut Qfin from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Qfin currently has a consensus rating of “Hold” and a consensus target price of $36.85.

Qfin Trading Up 0.5%

Shares of NASDAQ:QFIN traded up $0.07 during trading on Tuesday, reaching $14.00. 497,384 shares of the stock were exchanged, compared to its average volume of 1,550,873. Qfin has a 12-month low of $13.81 and a 12-month high of $48.94. The firm’s 50-day moving average price is $15.75 and its 200 day moving average price is $21.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 2.04, a price-to-earnings-growth ratio of 0.20 and a beta of 0.49.

Hedge Funds Weigh In On Qfin

A number of hedge funds have recently made changes to their positions in QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Qfin during the 1st quarter valued at $29,000. Rexford Capital Inc. acquired a new stake in Qfin in the 2nd quarter valued at $78,000. SBI Securities Co. Ltd. raised its position in Qfin by 6,796.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after purchasing an additional 1,903 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Qfin by 415.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock valued at $51,000 after purchasing an additional 2,125 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Qfin by 32.6% during the second quarter. PNC Financial Services Group Inc. now owns 3,147 shares of the company’s stock worth $136,000 after purchasing an additional 774 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

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.