Qifu Technology (NASDAQ:QFIN) Trading Up 3.2%

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) traded up 3.2% on Tuesday . The stock traded as high as $19.31 and last traded at $19.27. 357,308 shares were traded during trading, a decline of 68% from the average session volume of 1,103,694 shares. The stock had previously closed at $18.68.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Nomura assumed coverage on Qifu Technology in a research report on Monday, December 18th. They set a "buy" rating for the company. Citigroup upped their price target on Qifu Technology from $23.54 to $23.80 and gave the company a "buy" rating in a report on Thursday, March 14th.

Qifu Technology Trading Up 5.0 %

The firm has a fifty day simple moving average of $16.13 and a 200 day simple moving average of $15.55. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 5.36, a PEG ratio of 0.43 and a beta of 0.62.

Qifu Technology Increases Dividend

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

Hedge Funds Weigh In On Qifu Technology

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its holdings in shares of Qifu Technology by 83.9% in the 4th quarter. Parallel Advisors LLC now owns 2,426 shares of the company's stock worth $38,000 after buying an additional 1,107 shares in the last quarter. Natixis acquired a new position in shares of Qifu Technology in the 2nd quarter worth approximately $41,000. Employees Retirement System of Texas bought a new stake in Qifu Technology during the 3rd quarter worth approximately $51,000. Clear Street Markets LLC bought a new stake in Qifu Technology during the 3rd quarter worth approximately $58,000. Finally, Tower Research Capital LLC TRC grew its position in Qifu Technology by 164.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,203 shares of the company's stock worth $67,000 after acquiring an additional 3,236 shares during the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

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.