Qfin (NASDAQ:QFIN) Hits New 52-Week Low – Here’s What Happened

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $12.67 and last traded at $12.8850, with a volume of 681363 shares trading hands. The stock had previously closed at $13.12.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on QFIN. Jefferies Financial Group decreased their price target on Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a report on Wednesday, March 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Qfin in a research report on Monday, December 29th. Finally, Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. 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, the company presently has an average rating of “Hold” and a consensus target price of $22.20.

Qfin Stock Performance

The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 2.08, a PEG ratio of 0.22 and a beta of 0.49. The company has a quick ratio of 2.94, a current ratio of 2.43 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $15.13 and a 200 day moving average of $20.41.

Qfin (NASDAQ:QFIN) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). Qfin had a net margin of 31.13% and a return on equity of 24.97%. The business had revenue of $585.10 million for the quarter, compared to analyst estimates of $664.95 million. As a group, equities research analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin Dividend Announcement

The business also recently declared a dividend, which will be paid on Thursday, May 14th. Investors of record on Wednesday, April 22nd will be paid a $0.78 dividend. This represents a dividend yield of 1,143.0%. The ex-dividend date is Wednesday, April 22nd. Qfin’s payout ratio is 24.35%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its position in shares of Qfin by 813.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,669 shares of the company’s stock worth $90,000 after purchasing an additional 4,158 shares during the last quarter. Empowered Funds LLC acquired a new position in Qfin in the fourth quarter worth about $202,000. XTX Topco Ltd grew its stake in Qfin by 123.8% in the fourth quarter. XTX Topco Ltd now owns 37,511 shares of the company’s stock worth $723,000 after purchasing an additional 20,747 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in Qfin by 124.1% in the fourth quarter. Voloridge Investment Management LLC now owns 1,163,392 shares of the company’s stock valued at $22,419,000 after buying an additional 644,171 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Qfin during the fourth quarter valued at approximately $466,000. 74.81% of the stock is owned by institutional investors and hedge funds.

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.