Qfin (NASDAQ:QFIN) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Qfin (NASDAQ:QFIN) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut Qfin from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $45.00 to $21.00 in a research note on Wednesday, November 19th. Wall Street Zen downgraded shares of Qfin from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qfin in a research note on Monday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.85.

Qfin Price Performance

QFIN stock opened at $18.99 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.94 and a quick ratio of 2.94. Qfin has a 1 year low of $17.61 and a 1 year high of $48.94. The firm has a 50-day moving average of $21.76 and a 200 day moving average of $30.75. The company has a market cap of $2.70 billion, a P/E ratio of 2.77, a PEG ratio of 0.22 and a beta of 0.40.

Qfin (NASDAQ:QFIN) last posted its earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.16). Qfin had a return on equity of 28.73% and a net margin of 35.09%.The firm had revenue of $731.04 million for the quarter, compared to analysts’ expectations of $693.21 million. On average, sell-side analysts forecast that Qfin will post 5.71 EPS for the current year.

Institutional Investors Weigh In On Qfin

Institutional investors have recently made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of Qfin during the first quarter valued at approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Qfin in the 1st quarter worth $29,000. Hantz Financial Services Inc. increased 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 worth $32,000 after purchasing an additional 610 shares in the last quarter. Hoey Investments Inc. purchased a new position in shares of Qfin in the second quarter worth $33,000. Finally, iA Global Asset Management Inc. lifted its holdings in shares of 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 purchasing an additional 588 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

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.