Qfin (NASDAQ:QFIN) Hits New 1-Year Low – What’s Next?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $13.91 and last traded at $14.1330, with a volume of 837555 shares traded. The stock had previously closed at $14.55.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Qfin in a research report on Monday, December 29th. Zacks Research downgraded Qfin from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. cut shares of 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 report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.85.

Qfin Stock Performance

The firm’s 50 day simple moving average is $15.96 and its 200-day simple moving average is $21.48. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 2.02, a P/E/G ratio of 0.21 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94.

Institutional Investors Weigh In On Qfin

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Qfin during the 1st quarter valued at about $29,000. SBI Securities Co. Ltd. lifted its position in shares of Qfin by 6,796.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock worth $37,000 after purchasing an additional 1,903 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Qfin by 415.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock worth $51,000 after purchasing an additional 2,125 shares during the period. Parallel Advisors LLC grew its position in Qfin by 24.1% during the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock valued at $65,000 after purchasing an additional 656 shares in the last quarter. Finally, Rexford Capital Inc. purchased a new position in Qfin during the second quarter valued at approximately $78,000. 74.81% of the stock is owned by hedge funds and other 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.