Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) Sees Significant Increase in Short Interest

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) was the target of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 4,051,062 shares, a growth of 25.5% from the January 15th total of 3,227,120 shares. Approximately 3.4% of the company’s shares are short sold. Based on an average daily volume of 1,263,793 shares, the short-interest ratio is currently 3.2 days. Based on an average daily volume of 1,263,793 shares, the short-interest ratio is currently 3.2 days. Approximately 3.4% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Qfin

A number of institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Qfin in the first quarter valued at approximately $29,000. Hantz Financial Services Inc. lifted its holdings in shares of Qfin by 472.9% in the 2nd 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 position in shares of Qfin by 250.2% during the 2nd quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock worth $36,000 after buying an additional 588 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Qfin by 6,796.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after buying an additional 1,903 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings 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 acquiring an additional 2,125 shares in the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qfin Trading Up 1.2%

Qfin stock traded up $0.18 during mid-day trading on Tuesday, hitting $15.73. The company’s stock had a trading volume of 1,276,250 shares, compared to its average volume of 1,321,871. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94. The company has a 50 day moving average of $17.57 and a 200-day moving average of $23.42. Qfin has a one year low of $14.79 and a one year high of $48.94. The stock has a market cap of $2.23 billion, a PE ratio of 2.29, a P/E/G ratio of 0.23 and a beta of 0.52.

Qfin (NASDAQ:QFIN) last released its earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.16). The business had revenue of $731.04 million for the quarter, compared to the consensus estimate of $693.21 million. Qfin had a return on equity of 28.73% and a net margin of 35.09%. On average, research analysts anticipate that Qfin will post 5.71 EPS for the current year.

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.