Qfin (NASDAQ:QFIN) Reaches New 12-Month Low Following Weak Earnings

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) shares reached a new 52-week low on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $19.35 and last traded at $19.6370, with a volume of 138035 shares changing hands. The stock had previously closed at $22.42.

The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.16). The company had revenue of $731.04 million during the quarter, compared to analysts’ expectations of $693.21 million. Qfin had a return on equity of 30.74% and a net margin of 38.66%.

Analysts Set New Price Targets

QFIN has been the topic of several research reports. Zacks Research cut shares of Qfin from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Weiss Ratings downgraded Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Wall Street Zen cut Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Finally, JPMorgan Chase & Co. lowered Qfin from an “overweight” rating to a “neutral” rating and set a $21.00 price target on the stock. in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.07.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SVB Wealth LLC purchased a new stake in shares of Qfin in the 1st quarter worth $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Qfin during the 1st quarter valued at about $29,000. Hantz Financial Services Inc. raised its holdings in shares of Qfin by 472.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after purchasing an additional 610 shares in the last quarter. Hoey Investments Inc. bought a new position in shares of Qfin during the second quarter valued at approximately $33,000. Finally, iA Global Asset Management Inc. increased its holdings in Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock valued at $36,000 after buying an additional 588 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qfin Stock Performance

The business has a fifty day simple moving average of $26.50 and a two-hundred day simple moving average of $34.47. The company has a market cap of $2.79 billion, a PE ratio of 2.77, a price-to-earnings-growth ratio of 0.23 and a beta of 0.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48.

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.