Qfin (NASDAQ:QFIN) Sets New 52-Week Low – Here’s Why

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s share price reached a new 52-week low on Friday . The company traded as low as $17.42 and last traded at $17.42, with a volume of 515076 shares trading hands. The stock had previously closed at $18.14.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Zacks Research downgraded Qfin from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. JPMorgan Chase & Co. cut shares of Qfin from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $45.00 to $21.00 in a research note on Wednesday, November 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Qfin presently has an average rating of “Hold” and a consensus price target of $36.85.

Qfin Stock Performance

The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 2.56, a PEG ratio of 0.27 and a beta of 0.43. The stock’s 50 day moving average is $20.19 and its 200 day moving average is $28.52.

Qfin (NASDAQ:QFIN) last released its quarterly earnings results on Tuesday, November 18th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.16). Qfin had a net margin of 35.09% and a return on equity of 28.73%. The business had revenue of $731.04 million during the quarter, compared to analyst estimates of $693.21 million. On average, analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current year.

Institutional Trading of Qfin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Qfin in the 1st quarter valued at about $29,000. Hantz Financial Services Inc. raised its position in shares of Qfin by 472.9% in the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after buying an additional 610 shares during the last quarter. Hoey Investments Inc. acquired a new position in shares of Qfin in the second quarter valued at approximately $33,000. iA Global Asset Management Inc. lifted its stake in shares of Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock valued at $36,000 after buying an additional 588 shares during the period. Finally, First Horizon Advisors Inc. acquired a new stake in Qfin during the second quarter worth approximately $60,000. Hedge funds and other institutional investors 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.