Qfin (NASDAQ:QFIN) Reaches New 52-Week Low – Here’s What Happened

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) reached a new 52-week low on Thursday . The stock traded as low as $11.25 and last traded at $11.5150, with a volume of 420114 shares. The stock had previously closed at $11.79.

Analysts Set New Price Targets

Several research firms recently commented on QFIN. Weiss Ratings cut Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Zacks Research raised shares of Qfin from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft set a $13.00 price objective on shares of Qfin in a report on Wednesday, August 12th. Bank of America reaffirmed a “neutral” rating and issued a $15.33 target price on shares of Qfin in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. lowered their target price on Qfin from $14.50 to $13.50 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.31.

Qfin Stock Down 3.7%

The company’s 50 day moving average price is $13.96 and its two-hundred day moving average price is $14.04. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.38 billion, a PE ratio of 2.08 and a beta of 0.63.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings data on Friday, May 15th. The company reported $1.12 EPS for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%.The firm had revenue of $567.01 million during the quarter. On average, equities research analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 3.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Xiaohuan Chen purchased 4,000 shares of Qfin stock in a transaction on Tuesday, June 9th. The stock was acquired at an average price of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the transaction, the director directly owned 19,000 shares in the company, valued at $273,790. This represents a 26.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Qfin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Qfin during the first quarter valued at approximately $29,000. SBI Securities Co. Ltd. grew its position in shares of Qfin by 6,796.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock worth $37,000 after purchasing an additional 1,903 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Qfin by 415.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock valued at $51,000 after buying an additional 2,125 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Qfin by 24.1% in the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after buying an additional 656 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Qfin by 23.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after acquiring an additional 1,016 shares during the last quarter. 74.81% of the stock is 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.