Qfin (NASDAQ:QFIN) Hits New 12-Month Low - Here's What Happened

Key Points

• Qfin shares fell to a new 52-week low of $8.25 during Tuesday trading, ending near $8.14 and well below its 50-day and 200-day moving averages.
• Analyst sentiment has deteriorated, with several firms downgrading the stock to Sell or Underweight. Qfin now has a consensus “Reduce” rating and an average price target of $12.29.
• Despite the stock pressure, Qfin reported quarterly EPS of $0.55 on $524.96 million in revenue, with a 22.23% net margin and 15.23% return on equity.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.25 and last traded at $8.1350, with a volume of 75140 shares traded. The stock had previously closed at $8.47.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings cut shares of Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, July 13th. Morgan Stanley downgraded shares of Qfin from an "overweight" rating to an "equal weight" rating and set a $13.00 price target on the stock. in a research note on Wednesday, August 26th. Bank of America reiterated a "neutral" rating on shares of Qfin in a report on Thursday, September 10th. JPMorgan Chase & Co. cut shares of Qfin from a "neutral" rating to an "underweight" rating and lowered their price objective for the company from $13.50 to $9.00 in a research note on Wednesday, August 26th. Finally, Citigroup downgraded Qfin from a "buy" rating to a "sell" rating and set a $8.00 price objective for the company. in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $12.29.

Qfin Stock Performance

The stock's fifty day moving average is $11.79 and its two-hundred day moving average is $13.26. The firm has a market capitalization of $988.02 million, a price-to-earnings ratio of 1.95 and a beta of 0.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.17 and a current ratio of 2.17.

Qfin (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.55 EPS for the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%.The firm had revenue of $524.96 million during the quarter. Analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 2.42 earnings per share for the current year.

Qfin Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, October 1st. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a dividend yield of 1,070.0%. Qfin's dividend payout ratio (DPR) is presently 21.63%.

Institutional Trading of Qfin

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd grew its position in shares of Qfin by 813.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,669 shares of the company's stock worth $90,000 after acquiring an additional 4,158 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Qfin during the 1st quarter valued at approximately $136,000. DGS Capital Management LLC boosted its holdings in Qfin by 8.8% in the first quarter. DGS Capital Management LLC now owns 10,906 shares of the company's stock worth $141,000 after purchasing an additional 878 shares during the period. Swiss Life Asset Management Ltd grew its holdings in shares of Qfin by 10.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 11,468 shares of the company's stock valued at $221,000 after purchasing an additional 1,058 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in shares of Qfin in the 4th quarter worth about $247,000. 74.81% of the stock is owned by institutional investors and hedge funds.

About Qfin

Qifu Technology, Inc NASDAQ: QFIN, formerly known as 360 DigiTech, Inc, is a China-based financial technology company that operates a technology-enabled consumer credit services platform. The company uses data analytics, artificial intelligence and risk-management technologies to help connect consumers seeking credit with financial institutions and other lending partners.

Qifu provides services across the consumer lending process, including customer acquisition, credit assessment, loan facilitation, risk management and post-origination support.

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