Qfin (NASDAQ:QFIN) Shares Down 4.7% – Should You Sell?

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s stock price was down 4.7% during trading on Wednesday . The company traded as low as $18.79 and last traded at $18.6650. Approximately 247,102 shares were traded during trading, a decline of 86% from the average daily volume of 1,807,713 shares. The stock had previously closed at $19.59.

Analyst Ratings Changes

A number of equities analysts have issued reports on QFIN shares. Zacks Research upgraded Qfin from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Wall Street Zen cut shares of Qfin from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. cut shares of Qfin from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $45.00 to $21.00 in a research note on Wednesday, November 19th. Finally, Weiss Ratings lowered shares of Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.85.

Qfin Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94. The firm’s 50 day moving average is $23.92 and its 200-day moving average is $32.52. The company has a market cap of $2.80 billion, a PE ratio of 2.87, a PEG ratio of 0.21 and a beta of 0.40.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings results on Tuesday, November 18th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.16). The company had revenue of $731.04 million during the quarter, compared to analyst estimates of $693.21 million. Qfin had a net margin of 35.09% and a return on equity of 28.73%. On average, research analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Institutional Trading of Qfin

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Aspex Management HK Ltd grew its position in Qfin by 30.5% in the second quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company’s stock worth $286,712,000 after acquiring an additional 1,547,312 shares during the period. Krane Funds Advisors LLC increased its position in shares of Qfin by 25.1% during the 3rd quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock worth $182,597,000 after purchasing an additional 1,271,942 shares during the last quarter. Keystone Investors PTE Ltd. purchased a new stake in Qfin in the 1st quarter valued at about $52,814,000. Norges Bank purchased a new stake in Qfin in the 2nd quarter valued at about $43,265,000. Finally, JPMorgan Chase & Co. lifted its position in Qfin by 116.6% in the second quarter. JPMorgan Chase & Co. now owns 1,376,477 shares of the company’s stock valued at $59,684,000 after buying an additional 740,888 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

About Qfin

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.