Qifu Technology, Inc. (NASDAQ:QFIN) Short Interest Update

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,520,000 shares, an increase of 23.2% from the February 29th total of 3,670,000 shares. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is currently 4.2 days.

Qifu Technology Trading Up 1.4 %

Shares of NASDAQ:QFIN traded up $0.25 on Monday, reaching $18.68. 909,037 shares of the company traded hands, compared to its average volume of 1,116,576. The business's 50-day simple moving average is $16.04 and its 200 day simple moving average is $15.52. Qifu Technology has a 52 week low of $13.12 and a 52 week high of $20.40. The stock has a market capitalization of $3.01 billion, a P/E ratio of 5.10, a price-to-earnings-growth ratio of 0.43 and a beta of 0.62.

Qifu Technology Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.57 per share. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.50. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, April 12th. Qifu Technology's dividend payout ratio is currently 26.78%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Nomura assumed coverage on Qifu Technology in a research note on Monday, December 18th. They issued a "buy" rating on the stock. Citigroup raised their price objective on Qifu Technology from $23.54 to $23.80 and gave the company a "buy" rating in a research note on Thursday, March 14th.

Institutional Trading of Qifu Technology

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of Qifu Technology by 83.9% during the fourth quarter. Parallel Advisors LLC now owns 2,426 shares of the company's stock worth $38,000 after purchasing an additional 1,107 shares during the period. Natixis purchased a new stake in shares of Qifu Technology during the second quarter worth about $41,000. Employees Retirement System of Texas purchased a new stake in Qifu Technology in the third quarter worth about $51,000. Clear Street Markets LLC purchased a new stake in Qifu Technology in the third quarter worth about $58,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Qifu Technology by 164.5% in the third quarter. Tower Research Capital LLC TRC now owns 5,203 shares of the company's stock worth $67,000 after buying an additional 3,236 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qifu Technology Company Profile

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.