Qfin (NASDAQ:QFIN) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Qfin (NASDAQ:QFIN) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on QFIN. Jefferies Financial Group reduced their target price on Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Bank of America reiterated a “neutral” rating and set a $15.33 price target on shares of Qfin in a research note on Wednesday, May 27th. Finally, Weiss Ratings cut Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.91.

Qfin Stock Down 4.1%

NASDAQ:QFIN opened at $12.27 on Monday. 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 twelve month low of $11.31 and a twelve month high of $43.20. The company has a market cap of $1.49 billion, a PE ratio of 2.25 and a beta of 0.57. The company’s 50 day moving average is $14.41 and its two-hundred day moving average is $14.90.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings results on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. The business had revenue of $567.01 million during the quarter. Analysts anticipate that Qfin will post 3.85 EPS for the current year.

Insider Activity

In other Qfin news, Director Xiaohuan Chen bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the transaction, the director directly owned 19,000 shares of the company’s stock, valued at approximately $273,790. This trade represents a 26.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Qfin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in shares of Qfin by 51.7% in the first quarter. Royal Bank of Canada now owns 6,508 shares of the company’s stock worth $293,000 after buying an additional 2,219 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Qfin during the first quarter valued at approximately $29,000. Goldman Sachs Group Inc. lifted its holdings in Qfin by 32.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock valued at $72,028,000 after acquiring an additional 395,589 shares during the period. California State Teachers Retirement System lifted its holdings in Qfin by 333.8% in the second quarter. California State Teachers Retirement System now owns 34,810 shares of the company’s stock valued at $1,509,000 after acquiring an additional 26,786 shares during the period. Finally, Barclays PLC boosted its position in Qfin by 89.2% in the 3rd quarter. Barclays PLC now owns 466,449 shares of the company’s stock worth $13,424,000 after purchasing an additional 219,929 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

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.