Qfin (NASDAQ:QFIN) Raised to Hold at Zacks Research

Qfin (NASDAQ:QFIN) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Bank of America reaffirmed a “neutral” rating and set a $15.33 price target on shares of Qfin in a research report on Wednesday, May 27th. Jefferies Financial Group decreased their price objective on shares of Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Finally, Weiss Ratings lowered shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.91.

Qfin Stock Down 4.1%

NASDAQ:QFIN opened at $12.27 on Monday. Qfin has a twelve month low of $11.31 and a twelve month high of $43.20. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 2.25 and a beta of 0.57. 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 stock’s 50 day moving average price is $14.41 and its two-hundred day moving average price is $14.90.

Qfin (NASDAQ:QFIN) last released its quarterly earnings data on Friday, May 15th. The company reported $1.12 EPS for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%.The company had revenue of $567.01 million during the quarter. Equities research analysts expect that Qfin will post 3.85 earnings per share for the current fiscal year.

Insider Activity at Qfin

In other Qfin news, Director Xiaohuan Chen bought 4,000 shares of Qfin stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the purchase, the director owned 19,000 shares of the company’s stock, valued at $273,790. The trade was a 26.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Qfin

A number of large investors have recently added to or reduced their stakes in QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Qfin during the first quarter worth $29,000. SBI Securities Co. Ltd. raised its position in shares of Qfin by 6,796.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after purchasing an additional 1,903 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Qfin by 415.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock valued at $51,000 after purchasing an additional 2,125 shares during the period. Parallel Advisors LLC raised its position in shares of Qfin by 24.1% in the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock valued at $65,000 after purchasing an additional 656 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Qfin by 23.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after buying an additional 1,016 shares during the last quarter. Institutional investors own 74.81% of the company’s stock.

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.