Qfin (NASDAQ:QFIN) Upgraded at Zacks Research

Qfin (NASDAQ:QFIN) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. downgraded Qfin from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $21.00 in a research note on Wednesday. Wall Street Zen downgraded shares of Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Finally, Weiss Ratings downgraded shares of Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.07.

Qfin Trading Down 14.2%

NASDAQ:QFIN opened at $19.23 on Tuesday. Qfin has a 12 month low of $18.66 and a 12 month high of $48.94. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average is $26.32 and its 200 day moving average is $34.36. The stock has a market capitalization of $2.73 billion, a PE ratio of 2.80, a price-to-earnings-growth ratio of 0.23 and a beta of 0.39.

Qfin (NASDAQ:QFIN) last announced its quarterly earnings data 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 firm had revenue of $731.04 million for the quarter, compared to the consensus estimate of $693.21 million. Qfin had a net margin of 35.09% and a return on equity of 29.00%. Sell-side analysts expect that Qfin will post 5.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in QFIN. TD Waterhouse Canada Inc. increased its position in shares of Qfin by 2.6% during the third quarter. TD Waterhouse Canada Inc. now owns 16,959 shares of the company’s stock valued at $504,000 after buying an additional 429 shares during the period. HB Wealth Management LLC grew its stake in Qfin by 7.2% during the first quarter. HB Wealth Management LLC now owns 6,431 shares of the company’s stock valued at $289,000 after acquiring an additional 431 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in Qfin by 6.9% during the 2nd quarter. Personal CFO Solutions LLC now owns 8,141 shares of the company’s stock worth $353,000 after acquiring an additional 526 shares during the period. iA Global Asset Management Inc. lifted its stake in Qfin by 250.2% in the 2nd quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock worth $36,000 after purchasing an additional 588 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in Qfin by 4.1% in the 2nd quarter. US Bancorp DE now owns 15,508 shares of the company’s stock valued at $672,000 after purchasing an additional 604 shares during the period. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qfin Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.