Qfin (NASDAQ:QFIN) Sets New 1-Year Low - What's Next?

Key Points

• Qfin shares hit a new 52-week low, falling to $7.90 during Monday trading and closing around $7.92, down 2.7%.
• Analyst sentiment is broadly negative: the stock has a consensus “Reduce” rating from MarketBeat, with one Buy, three Hold and four Sell ratings, and a consensus price target of $12.29.
• Despite the stock decline, Qfin reported quarterly EPS of $0.55 on $524.96 million in revenue and maintains relatively strong profitability, including a 22.23% net margin and 15.23% return on equity.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $7.90 and last traded at $7.9160, with a volume of 93320 shares changing hands. The stock had previously closed at $8.09.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley downgraded shares of Qfin from an "overweight" rating to an "equal weight" rating and set a $13.00 target price on the stock. in a report on Wednesday, August 26th. Bank of America reaffirmed a "neutral" rating on shares of Qfin in a research report on Thursday, September 10th. Weiss Ratings lowered Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft set a $13.00 price objective on Qfin in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group restated a "buy" rating and set a $15.40 target price on shares of Qfin in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $12.29.

Qfin Trading Down 2.7%

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.17 and a quick ratio of 2.17. The company's 50 day moving average is $11.29 and its two-hundred day moving average is $13.08. The firm has a market cap of $958.80 million, a P/E ratio of 1.90 and a beta of 0.57.

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

Qfin Cuts Dividend

The company also recently disclosed 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 is Wednesday, September 9th. This represents a dividend yield of 1,070.0%. Qfin's payout ratio is currently 21.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC boosted its stake in Qfin by 36.1% during the second quarter. Headlands Technologies LLC now owns 76,651 shares of the company's stock worth $1,212,000 after buying an additional 20,320 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Qfin by 128.0% in the 2nd quarter. Wellington Management Group LLP now owns 1,034,463 shares of the company's stock valued at $16,355,000 after buying an additional 580,772 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Qfin in the 2nd quarter valued at $1,573,000. FountainVest China Capital Partners GP3 Ltd. bought a new position in shares of Qfin during the 2nd quarter worth about $95,483,341. Finally, Ramsey Quantitative Systems bought a new position in shares of Qfin during the 2nd quarter worth about $207,000. 74.81% of the stock is owned by institutional investors.

Qfin Company Profile

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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