Qfin (NASDAQ:QFIN) Reaches New 52-Week Low – Here’s Why

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) reached a new 52-week low on Monday. The stock traded as low as $5.23 and last traded at $5.2850, with a volume of 118,494 shares trading hands. The stock had previously closed at $5.26.

Analyst Ratings Changes

A number of research analysts have issued reports on QFIN shares. Weiss Ratings restated a “sell (d+)” rating on shares of Qfin in a report on Friday, October 9th. Bank of America reissued a “neutral” rating on shares of Qfin in a report on Thursday, September 10th. JPMorgan Chase & Co. downgraded Qfin from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $13.50 to $9.00 in a research report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft set a $13.00 target price on shares of Qfin in a report on Wednesday, August 12th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $15.40 price target on shares of Qfin in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Qfin presently has an average rating of “Reduce” and a consensus target price of $12.29.

Qfin Price Performance

The company’s 50-day moving average price is $7.91 and its 200-day moving average price is $11.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.17 and a quick ratio of 2.17. The company has a market cap of $661.71 million, a P/E ratio of 1.30 and a beta of 0.55.

Qfin (NASDAQ:QFIN) last posted its earnings results on Friday, August 14th. The company reported $0.55 earnings per share for the quarter. The business had revenue of $524.96 million for the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%. As a group, sell-side analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 2.43 earnings per share for the current fiscal year.

Qfin Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, October 1st. Stockholders of record on Wednesday, September 9th were issued a $0.46 dividend. This is a drop from Qfin’s previous dividend of $0.78. This represents a dividend yield of 1,070.0%. The ex-dividend date was Wednesday, September 9th. Qfin’s dividend payout ratio is 21.63%.

Insiders Place Their Bets

In other news, Director Andrew Yan sold 330,000 shares of the stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $7.52, for a total transaction of $2,481,600.00. Following the completion of the transaction, the director directly owned 326,700 shares of the company’s stock, valued at $2,456,784. This represents a 50.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 657,550 shares of company stock valued at $4,889,121 over the last 90 days. 17.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Qfin

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FountainVest China Capital Partners GP3 Ltd. bought a new position in shares of Qfin during the second quarter valued at about $95,483,341. Renaissance Technologies LLC bought a new stake in shares of Qfin in the 1st quarter worth approximately $5,032,000. Bank of America Corp DE boosted its holdings in Qfin by 48.5% in the first 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 in the last quarter. Wellington Management Group LLP boosted its holdings in Qfin by 128.0% in the second quarter. Wellington Management Group LLP now owns 1,034,463 shares of the company’s stock valued at $16,355,000 after acquiring an additional 580,772 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Qfin during the 1st quarter valued at $5,612,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qfin Company Profile

Qifu Technology, Inc (NASDAQ: QFIN), formerly known as 360 DigiTech, Inc, is a China-based financial technology company. It operates a technology platform that connects individual borrowers with financial institution partners and supports the origination, underwriting, servicing and management of consumer credit products.

The company uses data analytics, artificial intelligence and other digital tools to assess credit risk and improve lending efficiency. Its platform supports products and services designed to provide personal loans and other consumer financing options, primarily through online and mobile channels.