Qfin (NASDAQ:QFIN) Stock Price Down 4.9% – Here’s What Happened

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) fell 4.9% on Monday . The stock traded as low as $14.78 and last traded at $14.6970. Approximately 650,062 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 1,519,265 shares. The stock had previously closed at $15.46.

Analysts Set New Price Targets

A number of analysts have commented on QFIN shares. Jefferies Financial Group decreased their target price on Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Bank of America reaffirmed a “neutral” rating and set a $15.33 price target on shares of Qfin in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Qfin currently has an average rating of “Hold” and an average price target of $19.91.

Qfin Stock Down 4.9%

The firm’s 50 day moving average is $14.28 and its two-hundred day moving average is $15.17. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 2.69 and a beta of 0.57. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.03.

Qfin (NASDAQ:QFIN) last released its quarterly earnings results on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. The company had revenue of $567.01 million for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. On average, sell-side analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 3.79 EPS for the current year.

Insider Activity at Qfin

In other Qfin news, Director Xiaohuan Chen acquired 4,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 19,000 shares in the company, valued at approximately $273,790. This trade represents a 26.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of QFIN. Triata Capital Ltd grew its holdings in Qfin by 188.3% in the fourth quarter. Triata Capital Ltd now owns 3,125,331 shares of the company’s stock valued at $60,225,000 after purchasing an additional 2,041,351 shares during the period. Norges Bank acquired a new position in shares of Qfin in the 4th quarter valued at $30,436,000. Goldman Sachs Group Inc. boosted its holdings in shares of 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 purchasing an additional 1,224,164 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Qfin by 1,050.6% during the 3rd quarter. Marshall Wace LLP now owns 790,665 shares of the company’s stock valued at $22,755,000 after buying an additional 721,950 shares during the period. Finally, M&G PLC purchased a new stake in shares of Qfin during the 4th quarter valued at $13,331,000. 74.81% of the stock is currently 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.