Qifu Technology (NASDAQ:QFIN) Shares Gap Up – Should You Buy?

by · The Markets Daily

Qifu Technology, Inc. (NASDAQ:QFIN – Get Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $32.37, but opened at $34.19. Qifu Technology shares last traded at $34.18, with a volume of 351,831 shares trading hands.

Qifu Technology Stock Up 8.4 %

The firm’s 50 day moving average price is $30.83 and its two-hundred day moving average price is $24.50. The firm has a market capitalization of $5.67 billion, a PE ratio of 8.22, a P/E/G ratio of 0.42 and a beta of 0.61.

Hedge Funds Weigh In On Qifu Technology

Several hedge funds and other institutional investors have recently modified their holdings of QFIN. Ashton Thomas Private Wealth LLC acquired a new stake in Qifu Technology during the 2nd quarter worth about $31,000. Blue Trust Inc. lifted its position in shares of Qifu Technology by 598.4% in the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock worth $32,000 after acquiring an additional 1,484 shares during the period. USA Financial Formulas acquired a new stake in Qifu Technology during the third quarter valued at approximately $41,000. Point72 DIFC Ltd bought a new stake in Qifu Technology during the third quarter worth about $43,000. Finally, Venturi Wealth Management LLC bought a new position in Qifu Technology in the 3rd quarter worth approximately $54,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Company Profile

(Get Free Report)

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.

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