Qfin (NASDAQ:QFIN) Sets New 12-Month Low - Here's Why

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $8.61 and last traded at $8.66, with a volume of 2965971 shares trading hands. The stock had previously closed at $8.80.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup downgraded shares of Qfin from a "buy" rating to a "sell" rating and set a $8.00 price objective on the stock. in a research report on Wednesday, August 26th. JPMorgan Chase & Co. lowered shares of Qfin from a "neutral" rating to an "underweight" rating and cut their target price for the company from $13.50 to $9.00 in a research note on Wednesday, August 26th. Jefferies Financial Group reissued a "buy" rating and issued a $15.40 price target on shares of Qfin in a research note on Wednesday, August 26th. Morgan Stanley downgraded 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. Finally, Deutsche Bank Aktiengesellschaft set a $13.00 target price on Qfin in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $12.29.

Qfin Trading Down 1.6%

The stock has a market cap of $1.05 billion, a PE ratio of 2.08 and a beta of 0.63. The stock's fifty day moving average price is $13.16 and its 200 day moving average price is $13.73. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.03.

Qfin (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported $0.55 EPS for the quarter. The company had revenue of $524.96 million during the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%. On average, sell-side analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 2.85 EPS 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 paid a $0.46 dividend. The ex-dividend date is Wednesday, September 9th. This represents a dividend yield of 1,032.0%. Qfin's payout ratio is currently 37.02%.

Insider Buying and Selling at Qfin

In related news, Director Xiaohuan Chen acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average price of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the transaction, the director directly owned 19,000 shares in the company, valued at approximately $273,790. This trade represents a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Qfin

A number of large investors have recently added to or reduced their stakes in QFIN. FountainVest China Capital Partners GP3 Ltd. bought a new stake in shares of Qfin in the second quarter worth $95,483,341. Triata Capital Ltd lifted its holdings in Qfin by 188.3% in the fourth quarter. Triata Capital Ltd now owns 3,125,331 shares of the company's stock valued at $60,225,000 after acquiring an additional 2,041,351 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Qfin by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,988,999 shares of the company's stock valued at $38,350,000 after acquiring an additional 176,754 shares during the period. Bank of America Corp DE boosted its position in Qfin by 48.5% in the first quarter. Bank of America Corp DE now owns 1,987,457 shares of the company's stock worth $25,658,000 after purchasing an additional 649,492 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Qfin by 198.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company's stock worth $35,501,000 after purchasing an additional 1,224,164 shares during the last quarter. Institutional investors own 74.81% of the company's stock.

Qfin Company Profile

360 DigiTech, Inc NASDAQ: QFIN is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company's flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.

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