Qfin (NASDAQ:QFIN) Reaches New 1-Year Low – Here’s What Happened

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.77 and last traded at $16.92, with a volume of 1212339 shares. The stock had previously closed at $17.29.

Analysts Set New Price Targets

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

Qfin Price Performance

The stock’s fifty day moving average price is $19.50 and its 200-day moving average price is $27.38. The firm has a market cap of $2.38 billion, a PE ratio of 2.44, a price-to-earnings-growth ratio of 0.25 and a beta of 0.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.94 and a quick ratio of 2.94.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share 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 analyst estimates of $693.21 million. Qfin had a return on equity of 28.73% and a net margin of 35.09%. As a group, equities analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Qfin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Qfin during the first quarter worth about $29,000. Hantz Financial Services Inc. grew its stake in shares of Qfin by 472.9% in the 2nd 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 period. Hoey Investments Inc. acquired a new stake in shares of Qfin during the 2nd quarter worth approximately $33,000. iA Global Asset Management Inc. increased its holdings in shares of 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 buying an additional 588 shares during the last quarter. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Qfin during the 2nd quarter valued at approximately $60,000. Institutional investors and hedge funds 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.