Qfin (NASDAQ:QFIN) Sets New 52-Week Low – Here’s Why

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $14.04 and last traded at $14.6970, with a volume of 213483 shares. The stock had previously closed at $14.56.

Analyst Ratings Changes

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

Qfin Stock Performance

The firm’s fifty day moving average price is $16.86 and its 200 day moving average price is $22.37. The firm has a market cap of $2.18 billion, a P/E ratio of 2.23, a price-to-earnings-growth ratio of 0.21 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Qfin during the 1st quarter worth approximately $29,000. Hantz Financial Services Inc. lifted its stake 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 buying an additional 610 shares during the period. iA Global Asset Management Inc. grew 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 buying an additional 588 shares during the last quarter. First Horizon Advisors Inc. acquired a new position in shares of Qfin in the 2nd quarter valued at $60,000. Finally, Rexford Capital Inc. acquired a new position in shares of Qfin in the 2nd quarter valued at $78,000. 74.81% of the stock is currently owned by hedge funds and other 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.