Stock Traders Purchase Large Volume of Call Options on Qfin (NASDAQ:QFIN)

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) saw unusually large options trading on Friday. Investors purchased 9,021 call options on the stock. This is an increase of approximately 989% compared to the average volume of 828 call options.

Qfin Stock Down 11.3%

Shares of Qfin stock traded down $1.68 during trading on Friday, reaching $13.20. The company’s stock had a trading volume of 3,288,442 shares, compared to its average volume of 1,183,942. Qfin has a 1-year low of $11.31 and a 1-year high of $43.56. The company has a 50-day simple moving average of $14.44 and a two-hundred day simple moving average of $15.04. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 2.42 and a beta of 0.57.

Qfin (NASDAQ:QFIN) last announced its earnings results on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. The company 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%. As a group, equities analysts forecast that Qfin will post 3.79 earnings per share for the current year.

Analysts Set New Price Targets

QFIN has been the subject of a number of analyst reports. Bank of America restated a “neutral” rating and set a $15.33 price objective on shares of Qfin in a research note on Wednesday, May 27th. Jefferies Financial Group lowered their price target on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Finally, Weiss Ratings raised shares of Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Qfin has a consensus rating of “Hold” and an average price target of $19.91.

Insider Transactions at Qfin

In other news, Director Xiaohuan Chen purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $14.41 per share, with a total value of $57,640.00. Following the transaction, the director owned 19,000 shares of the company’s stock, valued at $273,790. This represents a 26.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Qfin

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Triata Capital Ltd boosted its stake in Qfin by 188.3% in the 4th quarter. Triata Capital Ltd now owns 3,125,331 shares of the company’s stock worth $60,225,000 after purchasing an additional 2,041,351 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Qfin by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,988,999 shares of the company’s stock worth $38,350,000 after buying an additional 176,754 shares during the period. Bank of America Corp DE grew 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 valued at $25,658,000 after buying an additional 649,492 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Qfin by 198.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company’s stock valued at $35,501,000 after buying an additional 1,224,164 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Qfin in the 4th quarter valued at $30,436,000. 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.