Qfin (NASDAQ:QFIN) Shares Gap Down – Here’s Why

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $8.84, but opened at $8.38. Qfin shares last traded at $8.5050, with a volume of 161,189 shares changing hands.

Wall Street Analysts Forecast Growth

QFIN has been the subject of several research reports. Weiss Ratings cut shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, July 13th. Morgan Stanley cut shares of Qfin from an “overweight” rating to an “equal weight” rating and set a $13.00 price target on the stock. in a report on Wednesday, August 26th. Citigroup lowered Qfin from a “buy” rating to a “sell” rating and set a $8.00 price objective for the company. in a report on Wednesday, August 26th. Zacks Research downgraded Qfin from a “hold” rating to a “strong sell” rating in a research note on Friday, August 28th. Finally, Deutsche Bank Aktiengesellschaft set a $13.00 target price on Qfin in a research report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $12.29.

Qfin Trading Down 1.5%

The company has a market cap of $1.03 billion, a price-to-earnings ratio of 2.04 and a beta of 0.57. The company’s 50 day moving average price is $12.06 and its 200 day moving average price is $13.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.17 and a current ratio of 2.17.

Qfin (NASDAQ:QFIN) last released its quarterly earnings data on Friday, August 14th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $524.96 million during the quarter. Qfin had a net margin of 22.23% and a return on equity of 15.23%. Research analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 2.85 EPS for the current year.

Qfin Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, October 1st. Shareholders of record on Wednesday, September 9th will be given a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a dividend yield of 1,070.0%. Qfin’s payout ratio is currently 21.63%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC lifted its holdings in Qfin by 36.1% in the 2nd quarter. Headlands Technologies LLC now owns 76,651 shares of the company’s stock worth $1,212,000 after purchasing an additional 20,320 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Qfin by 128.0% in the second quarter. Wellington Management Group LLP now owns 1,034,463 shares of the company’s stock valued at $16,355,000 after purchasing an additional 580,772 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Qfin in the second quarter worth $1,573,000. FountainVest China Capital Partners GP3 Ltd. bought a new stake in shares of Qfin during the 2nd quarter worth $95,483,341. Finally, Ramsey Quantitative Systems acquired a new position in Qfin in the 2nd quarter valued at $207,000. 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.