Qfin (NASDAQ:QFIN) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) saw unusually-strong trading volume on Monday . Approximately 2,984,892 shares traded hands during 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.

Wall Street Analyst Weigh In

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

Qfin Stock Up 4.9%

The stock’s fifty day moving average price is $13.65 and its 200-day moving average price is $13.93. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 2.11 and a beta of 0.63.

Qfin (NASDAQ:QFIN) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.55 earnings per share (EPS) for the quarter. The firm had revenue of $524.96 million for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. On average, sell-side analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 3.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Xiaohuan Chen purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was purchased at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the purchase, the director directly owned 19,000 shares in the company, valued at $273,790. This trade represents a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Qfin

A number of institutional investors have recently added to or reduced their stakes in QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Qfin during the 1st quarter worth about $29,000. SBI Securities Co. Ltd. increased its position in Qfin by 6,796.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock worth $37,000 after buying an additional 1,903 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in 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 buying an additional 2,125 shares during the period. Parallel Advisors LLC increased its holdings in shares of Qfin by 24.1% during the 4th quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after acquiring an additional 656 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Qfin by 23.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after acquiring an additional 1,016 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

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.