Qfin (NASDAQ:QFIN) Sets New 12-Month Low – What’s Next?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s stock price reached a new 52-week low during mid-day trading 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QFIN. JPMorgan Chase & Co. cut Qfin from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $21.00 in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qfin in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.85.

Qfin Stock Down 3.1%

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.94 and a quick ratio of 2.94. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 2.56, a P/E/G ratio of 0.27 and a beta of 0.43. The firm’s 50 day simple moving average is $20.19 and its 200-day simple moving average is $28.52.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings data on Tuesday, November 18th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.16). The firm had revenue of $731.04 million during the quarter, compared to analyst estimates of $693.21 million. Qfin had a net margin of 35.09% and a return on equity of 28.73%. As a group, sell-side analysts anticipate 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 have recently added to or reduced their stakes in QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Qfin during the first quarter worth $29,000. Hantz Financial Services Inc. raised its holdings in Qfin by 472.9% during the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock worth $32,000 after purchasing an additional 610 shares in the last quarter. Hoey Investments Inc. purchased a new stake in Qfin in the 2nd quarter valued at approximately $33,000. iA Global Asset Management Inc. increased its position in Qfin by 250.2% during the 2nd quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock worth $36,000 after purchasing an additional 588 shares during the period. Finally, First Horizon Advisors Inc. purchased a new position in shares of Qfin during the 2nd quarter worth approximately $60,000. 74.81% of the stock is owned by institutional investors and hedge funds.

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.