Qfin (NASDAQ:QFIN) Trading Down 4.9% – What’s Next?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) dropped 4.9% during mid-day trading on Monday . The company traded as low as $14.78 and last traded at $14.6970. 650,062 shares traded hands during trading, a decline of 57% from the average session volume of 1,519,265 shares. The stock had previously closed at $15.46.

Wall Street Analysts Forecast Growth

QFIN has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Weiss Ratings raised Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 23rd. Finally, Bank of America reiterated a “neutral” rating and issued a $15.33 price target on shares of Qfin in a research note on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Qfin currently has an average rating of “Hold” and a consensus price target of $19.91.

Qfin Price Performance

The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 2.66 and a beta of 0.57. The company has a fifty day moving average price of $14.36 and a two-hundred day moving average price of $15.11.

Qfin (NASDAQ:QFIN) last released its quarterly earnings results on Friday, May 15th. The company reported $1.12 EPS for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. The firm had revenue of $567.01 million during the quarter. On average, equities research analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 3.79 EPS for the current fiscal year.

Insider Buying and Selling at Qfin

In other Qfin news, Director Xiaohuan Chen bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the purchase, the director owned 19,000 shares of the company’s stock, valued at approximately $273,790. This represents a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Qfin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in shares of Qfin by 51.7% in the first quarter. Royal Bank of Canada now owns 6,508 shares of the company’s stock valued at $293,000 after purchasing an additional 2,219 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Qfin during the first quarter worth $29,000. Goldman Sachs Group Inc. grew its position in Qfin by 32.7% in 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. California State Teachers Retirement System increased its stake in Qfin by 333.8% in the 2nd quarter. California State Teachers Retirement System now owns 34,810 shares of the company’s stock valued at $1,509,000 after buying an additional 26,786 shares during the period. Finally, American Century Companies Inc. increased its stake in Qfin by 20.6% in the 3rd quarter. American Century Companies Inc. now owns 794,274 shares of the company’s stock valued at $22,859,000 after buying an additional 135,462 shares during the period. 74.81% of the stock is 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.