Qfin (NASDAQ:QFIN) Shares Down 4.9% – Time to Sell?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) shares traded down 4.9% during mid-day trading on Monday . The company traded as low as $14.78 and last traded at $14.6970. Approximately 650,062 shares changed hands during trading, a decline of 57% from the average daily volume of 1,519,265 shares. The stock had previously closed at $15.46.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a report on Wednesday, March 18th. Weiss Ratings upgraded shares of Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 23rd. Finally, Bank of America restated a “neutral” rating and issued a $15.33 target price on shares of Qfin in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.91.

Qfin Trading Down 4.9%

The stock has a market capitalization of $1.79 billion, a P/E ratio of 2.69 and a beta of 0.57. The business has a 50 day simple moving average of $14.28 and a 200-day simple moving average of $15.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22.

Qfin (NASDAQ:QFIN) last announced its quarterly earnings data on Friday, May 15th. The company reported $1.12 earnings per share for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%.The business had revenue of $567.01 million during the quarter. On average, analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 3.79 EPS for the current year.

Insiders Place Their Bets

In other Qfin news, Director Xiaohuan Chen purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the transaction, the director owned 19,000 shares in the company, valued at $273,790. This represents a 26.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Qfin

Several hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Qfin in the first quarter worth approximately $29,000. SBI Securities Co. Ltd. increased its holdings in shares of Qfin by 6,796.4% in the 4th 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 lifted 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 worth $51,000 after purchasing an additional 2,125 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Qfin by 24.1% during 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 during the period. Finally, PNC Financial Services Group Inc. grew its position in Qfin by 23.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock valued at $103,000 after purchasing an additional 1,016 shares in the last quarter. 74.81% of the stock is owned by hedge funds and other 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.