Qfin (NASDAQ:QFIN) Sets New 12-Month Low – Should You Sell?

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) reached a new 52-week low on Tuesday . The company traded as low as $8.25 and last traded at $8.1350, with a volume of 75140 shares changing hands. The stock had previously closed at $8.47.

Analyst Ratings Changes

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

Qfin Price Performance

The firm has a 50 day moving average price of $11.53 and a 200 day moving average price of $13.17. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.03. The stock has a market cap of $995.91 million, a P/E ratio of 1.97 and a beta of 0.57.

Qfin (NASDAQ:QFIN) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.55 earnings per share (EPS) for the quarter. The company had revenue of $524.96 million during the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%. On average, analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 2.42 EPS for the current fiscal year.

Qfin Cuts Dividend

The company 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. This represents a dividend yield of 1,070.0%. The ex-dividend date is Wednesday, September 9th. Qfin’s dividend payout ratio is presently 21.63%.

Institutional Trading of Qfin

A number of hedge funds and other institutional investors have recently modified their holdings of QFIN. FountainVest China Capital Partners GP3 Ltd. purchased a new position in shares of Qfin during the 2nd quarter valued at $95,483,341. Triata Capital Ltd raised its holdings in Qfin by 188.3% during the fourth quarter. Triata Capital Ltd now owns 3,125,331 shares of the company’s stock valued at $60,225,000 after acquiring an additional 2,041,351 shares during the period. Norges Bank bought a new stake in Qfin during the fourth quarter valued at about $30,436,000. Bank of America Corp DE lifted its position in shares of Qfin by 48.5% in the first quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock valued at $25,658,000 after acquiring an additional 649,492 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Qfin by 108.5% in the fourth quarter. BNP Paribas Financial Markets now owns 947,274 shares of the company’s stock valued at $18,254,000 after acquiring an additional 493,007 shares in the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

About Qfin

Qifu Technology, Inc (NASDAQ: QFIN), formerly known as 360 DigiTech, Inc, is a China-based financial technology company that operates a technology-enabled consumer credit services platform. The company uses data analytics, artificial intelligence and risk-management technologies to help connect consumers seeking credit with financial institutions and other lending partners.

Qifu provides services across the consumer lending process, including customer acquisition, credit assessment, loan facilitation, risk management and post-origination support.