Qfin (NASDAQ:QFIN) Raised to Hold at Zacks Research

Qfin (NASDAQ:QFIN) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other research firms also recently weighed in on QFIN. Jefferies Financial Group decreased their price target on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Bank of America reaffirmed a “neutral” rating and set a $15.33 price objective on shares of Qfin in a report on Wednesday, May 27th. Finally, Weiss Ratings cut shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Qfin presently has an average rating of “Hold” and a consensus target price of $19.91.

Qfin Trading Down 4.1%

Shares of QFIN stock opened at $12.27 on Monday. Qfin has a 12 month low of $11.31 and a 12 month high of $43.20. The company has a market cap of $1.49 billion, a PE ratio of 2.25 and a beta of 0.57. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $14.41 and its two-hundred day moving average is $14.90.

Qfin (NASDAQ:QFIN) last announced its earnings results on Friday, May 15th. The company reported $1.12 earnings per share 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. Equities analysts predict that Qfin will post 3.85 EPS for the current year.

Insider Buying and Selling at Qfin

In other Qfin news, Director Xiaohuan Chen bought 4,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $14.41 per share, for a total transaction of $57,640.00. Following the transaction, the director owned 19,000 shares of the company’s stock, valued at approximately $273,790. The trade was a 26.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Qfin

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ramsey Quantitative Systems acquired a new position in Qfin in the second quarter valued at about $207,000. Militia Capital Management LLC acquired a new stake in shares of Qfin during the first quarter worth about $432,000. Bank of America Corp DE raised its position in shares of Qfin by 48.5% during the first quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock worth $25,658,000 after purchasing an additional 649,492 shares during the period. Royal Bank of Canada lifted its holdings in shares of Qfin by 247.8% during the 1st quarter. Royal Bank of Canada now owns 24,063 shares of the company’s stock valued at $311,000 after purchasing an additional 17,144 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Qfin during the 1st quarter valued at about $5,032,000. 74.81% of the stock is owned by 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.