Qfin (NASDAQ:QFIN) Sets New 1-Year Low – What’s Next?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s stock price reached a new 52-week low on Friday . The company traded as low as $14.76 and last traded at $14.9050, with a volume of 112726 shares changing hands. The stock had previously closed at $15.10.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qfin in a research note on Monday, December 29th. Zacks Research lowered shares of Qfin from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. cut shares of Qfin from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $45.00 to $21.00 in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Qfin currently has a consensus rating of “Hold” and an average target price of $36.85.

Qfin Trading Down 1.1%

The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 2.18, a P/E/G ratio of 0.22 and a beta of 0.52. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average price is $17.30 and its two-hundred day moving average price is $23.11.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. increased its holdings in Qfin by 2.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 16,959 shares of the company’s stock worth $504,000 after purchasing an additional 429 shares in the last quarter. Personal CFO Solutions LLC increased its stake in shares of Qfin by 6.9% in the second quarter. Personal CFO Solutions LLC now owns 8,141 shares of the company’s stock valued at $353,000 after buying an additional 526 shares during the period. iA Global Asset Management Inc. raised its holdings in Qfin by 250.2% in the 2nd 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 last quarter. Hantz Financial Services Inc. boosted its position in Qfin by 472.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock worth $32,000 after buying an additional 610 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin during the 1st quarter worth approximately $29,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

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.