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

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s stock price reached a new 52-week low on Friday . The company traded as low as $14.76 and last traded at $14.9050, with a volume of 112726 shares trading hands. The stock had previously closed at $15.10.

Wall Street Analyst Weigh In

Several brokerages have commented on QFIN. Weiss Ratings reiterated a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. cut Qfin from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $45.00 to $21.00 in a research report on Wednesday, November 19th. One investment 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.85.

Qfin Trading Down 0.1%

The company has a market capitalization of $2.14 billion, a P/E ratio of 2.20, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The company has a fifty day simple moving average of $17.39 and a two-hundred day simple moving average of $23.31. 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 quarterly earnings data 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 company had revenue of $731.04 million during the quarter, compared to the consensus estimate of $693.21 million. Qfin had a net margin of 35.09% and a return on equity of 28.73%. On average, analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Institutional Trading of Qfin

Several large investors have recently modified their holdings of QFIN. Royal Bank of Canada raised its holdings in Qfin by 51.7% in the 1st quarter. Royal Bank of Canada now owns 6,508 shares of the company’s stock worth $293,000 after acquiring an additional 2,219 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Qfin in the first quarter worth about $29,000. Goldman Sachs Group Inc. lifted its position in shares of Qfin by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock worth $72,028,000 after purchasing an additional 395,589 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Qfin by 34.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,301 shares of the company’s stock valued at $447,000 after purchasing an additional 2,647 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in Qfin in the 2nd quarter valued at approximately $302,000. 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.