CNFinance (NYSE:CNF) Posts Quarterly Earnings Results, Misses Estimates By $0.33 EPS

CNFinance (NYSE:CNF) posted its earnings results on Saturday. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.33), FiscalAI reports. The company had revenue of ($8.05) million during the quarter, compared to analyst estimates of $61.55 million.

CNFinance Stock Performance

Shares of CNF stock opened at $2.20 on Monday. The firm has a 50 day moving average price of $2.48 and a two-hundred day moving average price of $3.34. The company has a quick ratio of 328.89, a current ratio of 772.09 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $15.09 million, a PE ratio of 1.00 and a beta of -0.15. CNFinance has a 12-month low of $2.04 and a 12-month high of $6.49.

Analysts Set New Price Targets

Separately, Weiss Ratings raised CNFinance from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Hedge Funds Weigh In On CNFinance

A hedge fund recently raised its position in CNFinance stock. XTX Topco Ltd increased its position in shares of CNFinance Holdings Limited Sponsored ADR (NYSE:CNF) by 318.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,079 shares of the company’s stock after purchasing an additional 37,359 shares during the period. XTX Topco Ltd owned approximately 0.07% of CNFinance worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

About CNFinance

CNFinance Holdings Limited (NYSE: CNF) is a China-based holding company specializing in internet-based financial services for consumers and small- and medium-sized enterprises (SMEs). Through its subsidiaries, CNFinance develops and operates an online marketplace that connects individual and corporate borrowers with institutional and private capital providers. The company’s platform leverages technology to streamline the loan application process, enabling efficient access to credit in a traditionally underserved segment of the Chinese financial market.

The company’s core offerings include unsecured consumer loans, SME working capital financing, supply chain financing solutions and wealth management products.