CNFinance (NYSE:CNF) Issues Quarterly Earnings Results

CNFinance (NYSE:CNF) announced its quarterly earnings data on Thursday. The company reported ($4.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($4.49), FiscalAI reports. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $67.51 million.

CNFinance Stock Performance

NYSE:CNF traded down $0.02 during midday trading on Friday, reaching $2.67. 438 shares of the stock traded hands, compared to its average volume of 3,088. The stock has a market capitalization of $18.30 million, a P/E ratio of 0.86 and a beta of -0.24. The company has a fifty day moving average of $4.01 and a 200 day moving average of $4.90. CNFinance has a 12 month low of $2.36 and a 12 month high of $8.80.

Hedge Funds Weigh In On CNFinance

A hedge fund recently raised its stake in CNFinance stock. XTX Topco Ltd grew its position in shares of CNFinance Holdings Limited Sponsored ADR (NYSE:CNF) by 318.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,079 shares of the company’s stock after acquiring an additional 37,359 shares during the period. XTX Topco Ltd owned about 0.07% of CNFinance worth $32,000 as of its most recent SEC filing.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of CNFinance in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, CNFinance presently has an average rating of “Hold”.

CNFinance Company Profile

CNFinance Holdings Limited (NYSE: CNF) is a China-based holding company specializing in internet-based financial services for consumers and small- and medium-sized enterprises (SMEs). Through its subsidiaries, CNFinance develops and operates an online marketplace that connects individual and corporate borrowers with institutional and private capital providers. The company’s platform leverages technology to streamline the loan application process, enabling efficient access to credit in a traditionally underserved segment of the Chinese financial market.

The company’s core offerings include unsecured consumer loans, SME working capital financing, supply chain financing solutions and wealth management products.