Qfin (NASDAQ:QFIN) Sets New 52-Week Low – Here’s Why

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s share price hit a new 52-week low on Monday. The company traded as low as $5.54 and last traded at $5.5460, with a volume of 853,268 shares trading hands. The stock had previously closed at $5.67.

Analyst Ratings Changes

Several research firms recently issued reports on QFIN. Deutsche Bank Aktiengesellschaft set a $13.00 price objective on Qfin in a report on Wednesday, August 12th. Zacks Research cut Qfin from a “hold” rating to a “strong sell” rating in a report on Friday, August 28th. Citigroup downgraded Qfin from a “buy” rating to a “sell” rating and set a $8.00 target price on the stock. in a research report on Wednesday, August 26th. JPMorgan Chase & Co. lowered Qfin from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $13.50 to $9.00 in a research note on Wednesday, August 26th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Qfin in a research note on Friday, October 9th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $12.29.

Qfin Price Performance

The stock’s 50-day moving average price is $8.63 and its 200 day moving average price is $12.06. The firm has a market capitalization of $673.89 million, a price-to-earnings ratio of 1.33 and a beta of 0.55. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.03.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.55 earnings per share 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%. Equities research analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 2.43 earnings per share for the current fiscal year.

Qfin Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, October 1st. Shareholders of record on Wednesday, September 9th were paid a $0.46 dividend. This is a negative change from Qfin’s previous dividend of $0.78. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a yield of 1,070.0%. Qfin’s dividend payout ratio is 21.63%.

Insider Buying and Selling at Qfin

In other news, Director Andrew Yan sold 330,000 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $7.52, for a total transaction of $2,481,600.00. Following the transaction, the director directly owned 326,700 shares in the company, valued at $2,456,784. The trade was a 50.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 657,550 shares of company stock worth $4,889,121. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Qfin

Institutional investors have recently added to or reduced their stakes in the stock. DGS Capital Management LLC lifted its position in Qfin by 8.8% during the first quarter. DGS Capital Management LLC now owns 10,906 shares of the company’s stock worth $141,000 after buying an additional 878 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Qfin by 813.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,669 shares of the company’s stock valued at $90,000 after purchasing an additional 4,158 shares during the last quarter. APEIRON CAPITAL Ltd grew its stake in shares of Qfin by 0.4% in the 1st quarter. APEIRON CAPITAL Ltd now owns 1,032,055 shares of the company’s stock valued at $13,324,000 after buying an additional 4,600 shares during the period. QRG Capital Management Inc. purchased a new stake in shares of Qfin in the 1st quarter valued at approximately $136,000. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Qfin in the 2nd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qfin Company Profile

Qifu Technology, Inc, formerly known as 360 DigiTech, Inc and 360 Finance, is a China-based financial technology company. The company operates a technology platform that connects consumers seeking credit with financial institutions and other lending partners.

Qifu provides online consumer finance services, including credit assessment, loan facilitation, risk management, and post-loan servicing. Its technology uses data analysis, artificial intelligence, and automated tools to support borrower acquisition, underwriting, transaction processing, and credit monitoring.