Qfin (NASDAQ:QFIN) Hits New 12-Month Low – Here’s Why

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on QFIN shares. JPMorgan Chase & Co. downgraded shares of 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 report on Wednesday, November 19th. Zacks Research cut shares of Qfin from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qfin in a research note 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 MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.85.

Qfin Price Performance

The business’s fifty day simple moving average is $18.44 and its 200-day simple moving average is $25.27. The firm has a market cap of $2.23 billion, a P/E ratio of 2.29, a PEG ratio of 0.23 and a beta of 0.52. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN) last posted 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 analysts’ expectations of $693.21 million. As a group, analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Qfin

A number of institutional investors and hedge funds have recently bought and sold shares of QFIN. Aspex Management HK Ltd raised its position in shares of Qfin by 30.5% during the 2nd quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company’s stock valued at $286,712,000 after buying an additional 1,547,312 shares in the last quarter. Krane Funds Advisors LLC lifted its stake in shares of Qfin by 25.1% in the 3rd quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock valued at $182,597,000 after acquiring an additional 1,271,942 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. increased its stake in Qfin by 22.6% in the 2nd quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,295,438 shares of the company’s stock worth $142,890,000 after purchasing an additional 606,446 shares during the period. Swedbank AB grew its holdings in shares of Qfin by 24.2% in the third quarter. Swedbank AB now owns 1,660,064 shares of the company’s stock worth $47,777,000 after purchasing an additional 323,664 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Qfin by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock valued at $72,028,000 after buying an additional 395,589 shares during the last quarter. 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.