Qfin (NASDAQ:QFIN) Stock Rating Lowered by JPMorgan Chase & Co.

Qfin (NASDAQ:QFIN) was downgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Wednesday. They currently have a $9.00 price target on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 21.94% from the company’s previous close.

QFIN has been the subject of a number of other research reports. Jefferies Financial Group restated a “buy” rating and issued a $15.40 price objective on shares of Qfin in a research note on Wednesday. Deutsche Bank Aktiengesellschaft set a $13.00 target price on Qfin in a research note on Wednesday, August 12th. Weiss Ratings downgraded shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, July 13th. Bank of America restated a “neutral” rating and set a $15.33 price target on shares of Qfin in a research report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of Qfin from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Qfin presently has a consensus rating of “Reduce” and a consensus price target of $13.18.

Qfin Price Performance

Shares of NASDAQ QFIN opened at $11.53 on Wednesday. The company has a market capitalization of $1.40 billion, a PE ratio of 2.11 and a beta of 0.63. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $13.65 and its 200-day moving average price is $13.93. Qfin has a twelve month low of $10.85 and a twelve month high of $32.69.

Qfin (NASDAQ:QFIN) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.55 EPS for the quarter. The company had revenue of $524.96 million during the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%. On average, equities analysts anticipate that Qfin will post 3.74 EPS for the current year.

Insider Transactions at Qfin

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. FountainVest China Capital Partners GP3 Ltd. bought a new stake in Qfin in the 2nd quarter valued at about $95,483,341,000. Triata Capital Ltd boosted its position in Qfin by 188.3% during the fourth quarter. Triata Capital Ltd now owns 3,125,331 shares of the company’s stock worth $60,225,000 after purchasing an additional 2,041,351 shares during the period. Norges Bank bought a new position in Qfin during the fourth quarter worth about $30,436,000. Goldman Sachs Group Inc. increased its stake in shares of Qfin by 198.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company’s stock worth $35,501,000 after purchasing an additional 1,224,164 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Qfin by 1,050.6% in the third quarter. Marshall Wace LLP now owns 790,665 shares of the company’s stock valued at $22,755,000 after purchasing an additional 721,950 shares during the period. 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.