Qfin (NASDAQ:QFIN) Sets New 1-Year Low – What’s Next?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) reached a new 52-week low on Monday . The company traded as low as $7.90 and last traded at $7.9160, with a volume of 93320 shares trading hands. The stock had previously closed at $8.09.

Analysts Set New Price Targets

QFIN has been the subject of a number of analyst reports. Bank of America restated a “neutral” rating on shares of Qfin in a research note on Thursday, September 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $15.40 price objective on shares of Qfin in a research note on Wednesday, August 26th. Citigroup cut Qfin from a “buy” rating to a “sell” rating and set a $8.00 target price for the company. in a report on Wednesday, August 26th. Zacks Research downgraded Qfin from a “hold” rating to a “strong sell” rating in a research report on Friday, August 28th. Finally, Deutsche Bank Aktiengesellschaft set a $13.00 price target on Qfin in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $12.29.

Qfin Stock Down 2.7%

The firm has a market cap of $958.80 million, a price-to-earnings ratio of 1.90 and a beta of 0.57. 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 business’s 50-day moving average is $11.29 and its 200-day moving average is $13.08.

Qfin (NASDAQ:QFIN) last released its quarterly earnings results on Friday, August 14th. The company reported $0.55 EPS for the quarter. The firm had revenue of $524.96 million for the quarter. Qfin had a net margin of 22.23% and a return on equity of 15.23%. On average, equities analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 2.42 EPS for the current year.

Qfin Cuts Dividend

The company 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 1,070.0%. Qfin’s payout ratio is 21.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of QFIN. FountainVest China Capital Partners GP3 Ltd. bought a new position in Qfin in the 2nd quarter valued at $95,483,341. Triata Capital Ltd grew its holdings in shares of Qfin by 188.3% during the fourth quarter. Triata Capital Ltd now owns 3,125,331 shares of the company’s stock worth $60,225,000 after purchasing an additional 2,041,351 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Qfin by 48.5% during the first quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock worth $25,658,000 after purchasing an additional 649,492 shares during the last quarter. Norges Bank acquired a new stake in shares of Qfin in the fourth quarter valued at $30,436,000. Finally, Wellington Management Group LLP increased its stake in shares of Qfin by 128.0% in the second quarter. Wellington Management Group LLP now owns 1,034,463 shares of the company’s stock valued at $16,355,000 after buying an additional 580,772 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

About Qfin

Qifu Technology, Inc (NASDAQ: QFIN), formerly known as 360 DigiTech, Inc, is a China-based financial technology company that operates a technology-enabled consumer credit services platform. The company uses data analytics, artificial intelligence and risk-management technologies to help connect consumers seeking credit with financial institutions and other lending partners.

Qifu provides services across the consumer lending process, including customer acquisition, credit assessment, loan facilitation, risk management and post-origination support.