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

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) hit a new 52-week low during trading on Monday . The stock traded as low as $15.50 and last traded at $15.60, with a volume of 2697 shares. The stock had previously closed at $15.55.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Zacks Research cut shares of Qfin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. downgraded shares of Qfin from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $45.00 to $21.00 in a research note on Wednesday, November 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qfin in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Qfin presently has a consensus rating of “Hold” and a consensus target price of $36.85.

Qfin Trading Down 0.3%

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 firm has a market capitalization of $2.13 billion, a PE ratio of 2.18, a P/E/G ratio of 0.23 and a beta of 0.52. The stock’s 50-day simple moving average is $18.30 and its 200-day simple moving average is $24.89.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin during the first quarter worth about $29,000. Hantz Financial Services Inc. lifted its holdings in shares of 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 purchasing an additional 610 shares during the last quarter. iA Global Asset Management Inc. lifted its holdings in shares of 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 purchasing an additional 588 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Qfin by 6,796.4% in the 4th 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. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Qfin in the 2nd quarter worth approximately $60,000. 74.81% of the stock is currently owned by institutional investors.

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.