Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) Receives Consensus Rating of “Reduce” from Brokerages

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) has been given an average rating of “Reduce” by the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $19.91.

Several analysts have issued reports on the stock. Bank of America reissued a “neutral” rating and set a $15.33 target price on shares of Qfin in a research note on Wednesday, May 27th. Jefferies Financial Group cut their target price on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Finally, Weiss Ratings downgraded shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 9th.

Insider Activity at Qfin

In related news, Director Xiaohuan Chen purchased 190,000 shares of the stock in a transaction dated Friday, March 27th. The shares were acquired at an average cost of $12.89 per share, for a total transaction of $2,449,100.00. Following the acquisition, the director directly owned 190,000 shares in the company, valued at approximately $2,449,100. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Qfin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Militia Capital Management LLC purchased a new position in shares of Qfin during the 1st quarter valued at $432,000. Bank of America Corp DE grew its holdings in shares of Qfin by 48.5% during the 1st quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock valued at $25,658,000 after acquiring an additional 649,492 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Qfin by 247.8% during the 1st quarter. Royal Bank of Canada now owns 24,063 shares of the company’s stock valued at $311,000 after acquiring an additional 17,144 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Qfin during the 1st quarter valued at $5,032,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Qfin during the 1st quarter valued at $5,612,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qfin Price Performance

Shares of NASDAQ:QFIN opened at $15.21 on Friday. The company’s fifty day moving average is $13.95 and its two-hundred day moving average is $15.47. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03. Qfin has a 12-month low of $11.31 and a 12-month high of $46.18. The company has a market cap of $1.85 billion, a P/E ratio of 2.79 and a beta of 0.61.

Qfin (NASDAQ:QFIN) last announced its earnings results on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. The company had revenue of $567.01 million for the quarter. Equities analysts expect that Qfin will post 3.79 earnings per share for the current fiscal year.

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.