Qfin (NASDAQ:QFIN) Hits New 1-Year Low – Should You Sell?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s share price hit a new 52-week low on Tuesday . The company traded as low as $8.61 and last traded at $8.66, with a volume of 2965971 shares changing hands. The stock had previously closed at $8.80.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on QFIN shares. Zacks Research lowered Qfin from a “hold” rating to a “strong sell” rating in a research note on Friday, August 28th. Morgan Stanley lowered Qfin from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective on the stock. in a research note on Wednesday, August 26th. Bank of America reiterated a “neutral” rating and set a $15.33 target price on shares of Qfin in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft set a $13.00 target price on shares of Qfin in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $15.40 price target on shares of Qfin in a report on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Qfin presently has an average rating of “Reduce” and a consensus price target of $12.29.

Qfin Price Performance

The company’s fifty day moving average is $12.89 and its two-hundred day moving average is $13.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.17 and a current ratio of 2.17. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 2.06 and a beta of 0.57.

Qfin (NASDAQ:QFIN) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.55 earnings per share (EPS) for the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%.The firm had revenue of $524.96 million during the quarter. Equities research analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 2.85 EPS for the current year.

Qfin Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, October 1st. Stockholders of record on Wednesday, September 9th will be paid a $0.46 dividend. The ex-dividend date is Wednesday, September 9th. This represents a dividend yield of 1,032.0%. Qfin’s dividend payout ratio (DPR) is 37.02%.

Insider Activity

In related news, Director Xiaohuan Chen bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the acquisition, the director owned 19,000 shares in the company, valued at $273,790. This represents a 26.67% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Qfin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in shares of Qfin by 51.7% during 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 Qfin during the 1st quarter valued at $29,000. Goldman Sachs Group Inc. grew 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 purchasing an additional 395,589 shares in the last quarter. California State Teachers Retirement System increased its stake in Qfin by 333.8% during the 2nd quarter. California State Teachers Retirement System now owns 34,810 shares of the company’s stock worth $1,509,000 after buying an additional 26,786 shares during the period. Finally, Barclays PLC increased its stake in Qfin by 89.2% during the 3rd quarter. Barclays PLC now owns 466,449 shares of the company’s stock worth $13,424,000 after buying an additional 219,929 shares during the period. Hedge funds and other institutional investors own 74.81% of the company’s stock.

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.