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

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $12.67 and last traded at $12.8850, with a volume of 681363 shares. The stock had previously closed at $13.12.

Analysts Set New Price Targets

Several equities analysts recently issued reports on QFIN shares. Jefferies Financial Group reduced their price objective on Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.20.

Qfin Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.43 and a quick ratio of 2.94. The company has a fifty day moving average price of $15.13 and a 200 day moving average price of $20.41. The company has a market capitalization of $1.81 billion, a P/E ratio of 2.08, a price-to-earnings-growth ratio of 0.22 and a beta of 0.49.

Qfin (NASDAQ:QFIN) last released its quarterly earnings data on Tuesday, March 17th. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The company had revenue of $585.10 million for the quarter, compared to analyst estimates of $664.95 million. Qfin had a net margin of 31.13% and a return on equity of 24.97%. On average, sell-side analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin Dividend Announcement

The company also recently declared a dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 22nd will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a dividend yield of 1,143.0%. Qfin’s payout ratio is 24.35%.

Institutional Trading of Qfin

A number of large investors have recently modified their holdings of the company. Aspex Management HK Ltd boosted its stake in Qfin by 30.5% during the 2nd quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company’s stock valued at $286,712,000 after purchasing an additional 1,547,312 shares during the period. Krane Funds Advisors LLC raised its holdings in shares of Qfin by 25.1% during the third quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock valued at $182,597,000 after buying an additional 1,271,942 shares during the last quarter. Triata Capital Ltd grew its holdings in Qfin by 188.3% in the 4th quarter. Triata Capital Ltd now owns 3,125,331 shares of the company’s stock worth $60,225,000 after buying an additional 2,041,351 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Qfin by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,988,999 shares of the company’s stock worth $38,350,000 after buying an additional 176,754 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Qfin by 198.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company’s stock valued at $35,501,000 after acquiring an additional 1,224,164 shares during the period. Institutional investors and hedge funds 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.