Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) Receives $19.91 Average Target Price from Analysts

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) has received an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $19.91.

A number of brokerages have recently commented on QFIN. Weiss Ratings downgraded shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Bank of America restated a “neutral” rating and set a $15.33 price objective on shares of Qfin in a report on Wednesday, May 27th. Finally, Zacks Research raised shares of Qfin from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th.

Qfin Trading Down 0.9%

NASDAQ QFIN opened at $12.73 on Thursday. The stock has a 50-day simple moving average of $14.38 and a 200 day simple moving average of $14.79. The company has a market capitalization of $1.55 billion, a PE ratio of 2.33 and a beta of 0.57. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.03. Qfin has a 12 month low of $11.31 and a 12 month high of $43.20.

Qfin (NASDAQ:QFIN) last released its 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 firm had revenue of $567.01 million for the quarter. Research analysts forecast that Qfin will post 3.85 EPS for the current year.

Insider Activity

In other news, Director Xiaohuan Chen purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $14.41 per share, with a total value of $57,640.00. Following the acquisition, the director directly owned 19,000 shares of the company’s stock, valued at approximately $273,790. This represents a 26.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.10% of the stock is owned by company insiders.

Institutional Trading of Qfin

A number of institutional investors have recently made changes to their positions in the business. Ramsey Quantitative Systems acquired a new position in Qfin during the second quarter worth $207,000. Militia Capital Management LLC acquired a new stake in Qfin in the first quarter valued at $432,000. Bank of America Corp DE grew its position in shares of Qfin by 48.5% in the 1st quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock valued at $25,658,000 after acquiring an additional 649,492 shares during the period. Royal Bank of Canada grew its position in shares of Qfin by 247.8% in the 1st quarter. Royal Bank of Canada now owns 24,063 shares of the company’s stock valued at $311,000 after acquiring an additional 17,144 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Qfin in the 1st quarter valued at about $5,032,000. Institutional investors own 74.81% of the company’s stock.

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.