Traders Buy Large Volume of Qfin Call Options (NASDAQ:QFIN)

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) was the target of some unusual options trading activity on Friday. Stock investors purchased 9,021 call options on the company. This is an increase of approximately 989% compared to the average volume of 828 call options.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QFIN. Bank of America restated a “neutral” rating and issued a $15.33 target price on shares of Qfin in a research note on Wednesday, May 27th. Jefferies Financial Group lowered their price target on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Finally, Weiss Ratings raised shares of Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.91.

Insider Activity

In related news, Director Xiaohuan Chen purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average cost of $14.41 per share, with a total value of $57,640.00. Following the completion of the acquisition, the director directly owned 19,000 shares of the company’s stock, valued at approximately $273,790. The trade was a 26.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 17.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Qfin

A number of hedge funds have recently bought and sold shares of QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Qfin in the first quarter worth approximately $29,000. SBI Securities Co. Ltd. raised its stake in shares of 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 acquiring an additional 1,903 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Qfin by 415.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock worth $51,000 after acquiring an additional 2,125 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Qfin by 24.1% in 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. boosted its stake in shares of Qfin by 23.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock valued at $103,000 after purchasing an additional 1,016 shares in the last quarter. Institutional investors own 74.81% of the company’s stock.

Qfin Price Performance

NASDAQ:QFIN traded down $1.39 during midday trading on Friday, hitting $13.49. The company had a trading volume of 1,711,297 shares, compared to its average volume of 1,520,595. The company has a market capitalization of $1.64 billion, a PE ratio of 2.47 and a beta of 0.57. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03. Qfin has a 52-week low of $11.31 and a 52-week high of $43.56. The stock’s fifty day moving average price is $14.43 and its 200-day moving average price is $15.05.

Qfin (NASDAQ:QFIN) last released its quarterly earnings results on Friday, May 15th. The company reported $1.12 earnings per share for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%.The business had revenue of $567.01 million for the quarter. As a group, research analysts expect that Qfin will post 3.79 earnings per share for the current year.

About Qfin

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.