Qifu Technology (NASDAQ:QFIN) Reaches New 1-Year High – Still a Buy?

Qifu Technology, Inc. (NASDAQ:QFIN)’s share price hit a new 52-week high on Thursday . The company traded as high as $44.28 and last traded at $43.95, with a volume of 1146714 shares trading hands. The stock had previously closed at $43.00.

Analyst Ratings Changes

Separately, Citigroup increased their price target on Qifu Technology from $31.44 to $37.50 and gave the company a “buy” rating in a research note on Thursday, November 21st.

Qifu Technology Trading Up 2.6 %

The firm’s 50-day moving average is $38.85 and its 200 day moving average is $32.32. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 0.32 and a beta of 0.63.

Institutional Trading of Qifu Technology

Institutional investors have recently modified their holdings of the business. Wrapmanager Inc. raised its position in Qifu Technology by 4.1% during the 4th quarter. Wrapmanager Inc. now owns 7,554 shares of the company’s stock worth $290,000 after purchasing an additional 296 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock worth $45,000 after buying an additional 518 shares during the period. DGS Capital Management LLC increased its stake in Qifu Technology by 5.9% in the fourth quarter. DGS Capital Management LLC now owns 11,413 shares of the company’s stock valued at $438,000 after purchasing an additional 631 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Qifu Technology during the fourth quarter valued at about $29,000. Finally, US Bancorp DE boosted its position in shares of Qifu Technology by 16.5% during the 3rd quarter. US Bancorp DE now owns 5,410 shares of the company’s stock worth $161,000 after purchasing an additional 765 shares in the last quarter. Institutional investors own 74.81% of the company’s stock.

Qifu Technology Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.