Qfin (NASDAQ:QFIN) Upgraded to Hold at Zacks Research

Qfin (NASDAQ:QFIN) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also recently commented on the stock. Weiss Ratings cut shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Bank of America restated a “neutral” rating and issued a $15.33 price target on shares of Qfin in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group lowered their price objective on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Qfin presently has a consensus rating of “Hold” and an average price target of $19.91.

Qfin Trading Down 4.1%

Shares of NASDAQ QFIN opened at $12.27 on Monday. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03. Qfin has a 12 month low of $11.31 and a 12 month high of $43.20. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 2.25 and a beta of 0.57. The business has a fifty day simple moving average of $14.41 and a 200-day simple moving average of $14.90.

Qfin (NASDAQ:QFIN) last issued its quarterly earnings results on Friday, May 15th. The company reported $1.12 earnings per share for the quarter. The firm had revenue of $567.01 million for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%. Sell-side analysts predict that Qfin will post 3.85 EPS for the current year.

Insider Buying and Selling at Qfin

In other Qfin news, Director Xiaohuan Chen bought 4,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were bought at an average price of $14.41 per share, for a total transaction of $57,640.00. Following the acquisition, the director directly owned 19,000 shares of the company’s stock, valued at approximately $273,790. This trade represents a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.10% of the stock is owned by corporate insiders.

Institutional Trading of Qfin

Several institutional investors have recently made changes to their positions in QFIN. Ramsey Quantitative Systems acquired a new position in Qfin in the 2nd quarter valued at approximately $207,000. Militia Capital Management LLC acquired a new position in shares of Qfin in the first quarter worth $432,000. Bank of America Corp DE raised its holdings in shares of Qfin by 48.5% during the first quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock worth $25,658,000 after acquiring an additional 649,492 shares in the last quarter. Royal Bank of Canada boosted its position in Qfin by 247.8% during the first quarter. Royal Bank of Canada now owns 24,063 shares of the company’s stock valued at $311,000 after purchasing an additional 17,144 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Qfin in the first quarter valued at about $5,032,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

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.