Qfin (NASDAQ:QFIN) Hits New 52-Week Low - What's Next?

Key Points

• Qfin Holdings Inc. hit a new 52-week low at $24.81, with a significant trading volume of over 2.6 million shares on the day.
• Analysts have expressed a negative outlook, with Zacks Research downgrading the stock from a "hold" to a "strong sell" rating, while the current average rating stands at "Hold" with a target price of $51.73.
• Qfin recently announced an increased semi-annual dividend of $0.76, providing a high yield of 541.0%, reflecting a commitment to returning value to shareholders.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $24.81 and last traded at $24.86, with a volume of 2699331 shares trading hands. The stock had previously closed at $26.99.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Zacks Research cut shares of Qfin from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 14th. Weiss Ratings cut shares of Qfin from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Saturday. JPMorgan Chase & Co. initiated coverage on shares of Qfin in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price target on the stock. Finally, Wall Street Zen lowered shares of Qfin from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $51.73.

Qfin Price Performance

The business's 50-day moving average price is $28.73 and its 200 day moving average price is $36.30. The stock has a market capitalization of $3.53 billion, a PE ratio of 3.51, a price-to-earnings-growth ratio of 0.28 and a beta of 0.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.48 and a current ratio of 3.48.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). Qfin had a return on equity of 30.74% and a net margin of 38.66%.The company had revenue of $728.00 million during the quarter, compared to analysts' expectations of $4.68 billion. Research analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 8th were given a $0.76 dividend. This represents a yield of 541.0%. This is a boost from Qfin's previous semi-annual dividend of $0.70. The ex-dividend date was Monday, September 8th. Qfin's dividend payout ratio (DPR) is presently 21.19%.

Institutional Trading of Qfin

Several hedge funds have recently added to or reduced their stakes in the business. SkyOak Wealth LLC lifted its stake in Qfin by 21.1% in the third quarter. SkyOak Wealth LLC now owns 8,354 shares of the company's stock worth $240,000 after purchasing an additional 1,455 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Qfin by 5.6% in the third quarter. Asset Management One Co. Ltd. now owns 46,870 shares of the company's stock worth $1,349,000 after buying an additional 2,467 shares in the last quarter. Ariose Capital Management Ltd bought a new position in Qfin in the third quarter worth about $909,000. Ethic Inc. raised its stake in Qfin by 11.0% in the third quarter. Ethic Inc. now owns 13,982 shares of the company's stock worth $402,000 after buying an additional 1,388 shares in the last quarter. Finally, Matthews International Capital Management LLC grew its holdings in Qfin by 18.2% in the third quarter. Matthews International Capital Management LLC now owns 322,848 shares of the company's stock worth $9,292,000 after purchasing an additional 49,707 shares during the period. 74.81% of the stock is owned by institutional investors.

Qfin 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.

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