Qfin (NASDAQ:QFIN) Sets New 52-Week Low – What’s Next?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) reached a new 52-week low during trading on Wednesday . The stock traded as low as $16.49 and last traded at $16.55, with a volume of 1385526 shares changing hands. The stock had previously closed at $16.76.

Wall Street Analyst Weigh In

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

Qfin Stock Performance

The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 2.41, a P/E/G ratio of 0.25 and a beta of 0.43. The company’s fifty day simple moving average is $19.24 and its 200 day simple moving average is $26.78. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN) last announced its 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). The company 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%. On average, equities research analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current year.

Institutional Trading of Qfin

Hedge funds have recently added to or reduced their stakes in the company. Aspex Management HK Ltd boosted its holdings in Qfin by 30.5% in the 2nd quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company’s stock valued at $286,712,000 after purchasing an additional 1,547,312 shares during the period. Krane Funds Advisors LLC boosted its stake in shares of Qfin by 25.1% in the third quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock valued at $182,597,000 after buying an additional 1,271,942 shares during the period. Norges Bank acquired a new stake in Qfin during the second quarter worth approximately $43,265,000. JPMorgan Chase & Co. increased its stake in Qfin by 116.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,376,477 shares of the company’s stock worth $59,684,000 after acquiring an additional 740,888 shares during the period. Finally, Marshall Wace LLP raised its holdings in Qfin by 1,050.6% in the 3rd quarter. Marshall Wace LLP now owns 790,665 shares of the company’s stock valued at $22,755,000 after acquiring an additional 721,950 shares in the last quarter. 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.