Qfin (NASDAQ:QFIN) Reaches New 12-Month Low – Here’s What Happened
by Doug Wharley · The Cerbat GemQfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN – Get Free Report) shares hit a new 52-week low on Thursday . The stock traded as low as $12.25 and last traded at $12.4010, with a volume of 108619 shares traded. The stock had previously closed at $12.56.
Analysts Set New Price Targets
Several brokerages have recently weighed in on QFIN. Weiss Ratings cut shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Jefferies Financial Group decreased their price objective on Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $22.20.
Get Our Latest Stock Analysis on Qfin
Qfin Price Performance
The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.43 and a current ratio of 2.43. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 2.02, a price-to-earnings-growth ratio of 0.24 and a beta of 0.54. The stock’s 50 day simple moving average is $13.34 and its 200-day simple moving average is $16.46.
Qfin (NASDAQ:QFIN – Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.59 earnings per share (EPS) for the quarter. Qfin had a net margin of 31.13% and a return on equity of 24.97%. The business had revenue of $584.98 million for the quarter. Equities research analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 3.82 EPS for the current fiscal year.
Qfin Dividend Announcement
The firm also recently announced a dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 22nd were issued a dividend of $0.78 per share. This represents a dividend yield of 1,176.0%. The ex-dividend date of this dividend was Wednesday, April 22nd. Qfin’s dividend payout ratio (DPR) is 25.00%.
Insider Activity
In other Qfin news, Director Xiaohuan Chen bought 190,000 shares of Qfin stock in a transaction that occurred on Friday, March 27th. The stock was purchased at an average price of $12.89 per share, with a total value of $2,449,100.00. Following the completion of the acquisition, the director directly owned 190,000 shares in the company, valued at approximately $2,449,100. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.10% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in shares of Qfin by 48.5% during the first quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock worth $25,658,000 after purchasing an additional 649,492 shares during the last quarter. Royal Bank of Canada grew its position in Qfin by 247.8% during the first quarter. Royal Bank of Canada now owns 24,063 shares of the company’s stock valued at $311,000 after buying an additional 17,144 shares during the period. Renaissance Technologies LLC acquired a new stake in Qfin during the first quarter valued at $5,032,000. Arrowstreet Capital Limited Partnership acquired a new stake in Qfin during the first quarter valued at $5,612,000. Finally, Cetera Investment Advisers grew its position in Qfin by 39.1% during the first quarter. Cetera Investment Advisers now owns 57,028 shares of the company’s stock valued at $736,000 after buying an additional 16,018 shares during the period. Hedge funds and other 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.