Qfin (NASDAQ:QFIN) Sees Large Volume Increase – Still a Buy?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) saw an uptick in trading volume on Monday . Approximately 2,984,892 shares traded hands during mid-day trading, an increase of 102% from the previous session’s volume of 1,479,035 shares.The stock last traded at $10.9350 and had previously closed at $11.57.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Zacks Research raised Qfin from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft set a $13.00 target price on Qfin in a report on Wednesday, August 12th. Bank of America reissued a “neutral” rating and set a $15.33 target price on shares of Qfin in a research report on Wednesday, May 27th. Weiss Ratings downgraded Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Qfin from $14.50 to $13.50 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Qfin presently has a consensus rating of “Hold” and an average price target of $16.31.

Qfin Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.22 and a quick ratio of 2.22. The stock has a market capitalization of $1.33 billion, a PE ratio of 2.00 and a beta of 0.63. The firm has a fifty day moving average price of $13.81 and a two-hundred day moving average price of $13.98.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings data on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. The company had revenue of $567.01 million during the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%. Research analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 3.74 EPS for the current year.

Insider Activity

In related news, Director Xiaohuan Chen purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the acquisition, the director owned 19,000 shares in the company, valued at approximately $273,790. This trade represents a 26.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Qfin

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Qfin during the first quarter worth approximately $29,000. SBI Securities Co. Ltd. boosted its holdings 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 boosted 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 purchasing an additional 2,125 shares during the period. Parallel Advisors LLC grew its stake in Qfin by 24.1% in the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after purchasing an additional 656 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Qfin by 23.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after purchasing an additional 1,016 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors.

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.