Qfin (NASDAQ:QFIN) Hits New 1-Year Low – Here’s Why

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) shares reached a new 52-week low on Friday . The stock traded as low as $14.76 and last traded at $14.9050, with a volume of 112726 shares trading hands. The stock had previously closed at $15.10.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QFIN. Zacks Research downgraded shares of 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 target price for the company from $45.00 to $21.00 in a research note on Wednesday, November 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qfin in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.85.

Qfin Stock Performance

The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 2.20, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The firm’s 50-day moving average price is $17.39 and its two-hundred day moving average price is $23.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94.

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

Institutional Trading of Qfin

Several institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC bought a new stake in Qfin in the fourth quarter valued at $202,000. XTX Topco Ltd grew its holdings in shares of Qfin by 123.8% in the 4th quarter. XTX Topco Ltd now owns 37,511 shares of the company’s stock worth $723,000 after purchasing an additional 20,747 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of Qfin by 124.1% during the 4th quarter. Voloridge Investment Management LLC now owns 1,163,392 shares of the company’s stock worth $22,419,000 after purchasing an additional 644,171 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Qfin during the 4th quarter worth about $466,000. Finally, Engineers Gate Manager LP bought a new position in Qfin during the 4th quarter valued at about $2,281,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

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.