Qfin (NASDAQ:QFIN) Reaches New 1-Year Low After Earnings Miss

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) shares reached a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $19.35 and last traded at $19.6370, with a volume of 138035 shares trading hands. The stock had previously closed at $22.42.

The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.16). Qfin had a return on equity of 30.74% and a net margin of 38.66%.The business had revenue of $731.04 million during the quarter, compared to analysts’ expectations of $693.21 million.

Wall Street Analysts Forecast Growth

QFIN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded Qfin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research report on Wednesday. Zacks Research cut shares of Qfin from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Weiss Ratings downgraded Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Wall Street Zen cut Qfin from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.07.

Institutional Investors Weigh In On Qfin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SVB Wealth LLC bought a new position in shares of Qfin in the first quarter worth approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Qfin in the 1st quarter worth $29,000. Hantz Financial Services Inc. raised its holdings in Qfin by 472.9% during the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after acquiring an additional 610 shares during the period. Hoey Investments Inc. bought a new stake in Qfin during the second quarter valued at about $33,000. Finally, iA Global Asset Management Inc. raised its holdings in Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock valued at $36,000 after acquiring an additional 588 shares during the period. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qfin Stock Performance

The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average price of $26.50 and a two-hundred day moving average price of $34.47. The stock has a market cap of $2.79 billion, a P/E ratio of 2.77, a price-to-earnings-growth ratio of 0.23 and a beta of 0.39.

Qfin Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.