Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) Sees Significant Growth in Short Interest

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 4,051,062 shares, a growth of 25.5% from the January 15th total of 3,227,120 shares. Based on an average trading volume of 1,263,793 shares, the days-to-cover ratio is presently 3.2 days. Currently, 3.4% of the shares of the company are sold short. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 1,263,793 shares, the days-to-cover ratio is presently 3.2 days.

Qfin Trading Up 1.2%

Shares of Qfin stock opened at $15.73 on Wednesday. The company’s fifty day moving average price is $17.57 and its two-hundred day moving average price is $23.42. The firm has a market capitalization of $2.23 billion, a PE ratio of 2.29, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. Qfin has a 52-week low of $14.79 and a 52-week high of $48.94. 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 issued its earnings results 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). Qfin had a net margin of 35.09% and a return on equity of 28.73%. The business had revenue of $731.04 million for the quarter, compared to analyst estimates of $693.21 million. On average, analysts expect that Qfin will post 5.71 EPS for the current year.

Hedge Funds Weigh In On Qfin

Several hedge funds and other institutional investors have recently modified their holdings of QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Qfin during the first quarter worth $29,000. Hantz Financial Services Inc. grew its holdings in shares of Qfin by 472.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock worth $32,000 after purchasing an additional 610 shares during the last quarter. iA Global Asset Management Inc. increased its position 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 purchasing an additional 588 shares in the last quarter. First Horizon Advisors Inc. bought a new position in Qfin during the 2nd quarter valued at about $60,000. Finally, Rexford Capital Inc. acquired a new position in Qfin in the second quarter valued at about $78,000. Institutional investors own 74.81% of the company’s stock.

Analysts Set New Price Targets

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

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.