Qfin (NASDAQ:QFIN) Hits New 1-Year Low – Time to Sell?

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) reached a new 52-week low during trading on Tuesday . The stock traded as low as $16.06 and last traded at $16.03, with a volume of 179796 shares changing hands. The stock had previously closed at $16.40.

Analyst Ratings Changes

A number of brokerages recently issued reports on QFIN. JPMorgan Chase & Co. downgraded Qfin from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $45.00 to $21.00 in a research report on Wednesday, November 19th. Zacks Research cut Qfin from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.85.

Qfin Trading Down 1.1%

The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94. The company’s 50-day moving average price is $18.49 and its 200-day moving average price is $25.69. The firm has a market capitalization of $2.26 billion, a PE ratio of 2.34, a PEG ratio of 0.24 and a beta of 0.43.

Qfin (NASDAQ:QFIN) last posted its earnings results on Tuesday, November 18th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.16). The business had revenue of $731.04 million during the quarter, compared to analysts’ expectations of $693.21 million. Qfin had a net margin of 35.09% and a return on equity of 28.73%. On average, sell-side analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current year.

Hedge Funds Weigh In On Qfin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Qfin in the first quarter valued at $29,000. Hantz Financial Services Inc. grew its position in shares of Qfin by 472.9% during the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock worth $32,000 after acquiring an additional 610 shares during the last quarter. iA Global Asset Management Inc. increased its holdings in shares of Qfin by 250.2% in the 2nd 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. First Horizon Advisors Inc. purchased a new stake in Qfin in the 2nd quarter valued at $60,000. Finally, Rexford Capital Inc. acquired a new stake in Qfin during the 2nd quarter worth $78,000. 74.81% of the stock is owned by institutional investors and hedge funds.

About Qfin

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.