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

Key Points

• Qfin shares hit a new 52-week low, falling 3.7% to an intraday low of $11.25, well below their 50-day and 200-day moving averages near $14.
• Analyst sentiment is broadly neutral: one analyst rates the stock Buy, four rate it Hold, and one rates it Sell. The consensus price target is $16.31, compared with the current price near $11.52.
• Despite the stock decline, Qfin reported $1.12 in quarterly EPS on $567.01 million in revenue, with a 27.48% net margin and 20.85% return on equity; insiders and institutional investors own 17.10% and 74.81% of shares, respectively.

Shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $11.25 and last traded at $11.5150, with a volume of 420114 shares trading hands. The stock had previously closed at $11.79.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $13.00 price target on Qfin in a research report on Wednesday, August 12th. Zacks Research raised shares of Qfin from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. JPMorgan Chase & Co. decreased their price target on shares of Qfin from $14.50 to $13.50 and set a "neutral" rating on the stock in a report on Tuesday, August 11th. Bank of America restated a "neutral" rating and issued a $15.33 target price on shares of Qfin in a research note on Wednesday, May 27th. Finally, Weiss Ratings cut Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Qfin presently has a consensus rating of "Hold" and an average target price of $16.31.

Qfin Stock Down 3.7%

The stock has a 50 day moving average price of $13.96 and a 200-day moving average price of $14.04. The stock has a market capitalization of $1.38 billion, a P/E ratio of 2.08 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.22 and a quick ratio of 2.22.

Qfin (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The company reported $1.12 EPS for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. The company had revenue of $567.01 million during the quarter. As a group, research analysts expect that Qfin Holdings Inc. - Sponsored ADR will post 3.74 EPS for the current fiscal year.

Insider Transactions at Qfin

In other Qfin news, Director Xiaohuan Chen bought 4,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the acquisition, the director owned 19,000 shares of the company's stock, valued at approximately $273,790. This trade represents a 26.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 17.10% of the stock is currently owned by company insiders.

Institutional Trading of Qfin

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of Qfin by 51.7% in the first quarter. Royal Bank of Canada now owns 6,508 shares of the company's stock worth $293,000 after buying an additional 2,219 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Qfin during the first quarter valued at approximately $29,000. Goldman Sachs Group Inc. increased its position in shares of Qfin by 32.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company's stock valued at $72,028,000 after acquiring an additional 395,589 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Qfin by 333.8% during the second quarter. California State Teachers Retirement System now owns 34,810 shares of the company's stock valued at $1,509,000 after acquiring an additional 26,786 shares in the last quarter. Finally, Barclays PLC raised its holdings in Qfin by 89.2% in the 3rd quarter. Barclays PLC now owns 466,449 shares of the company's stock worth $13,424,000 after acquiring an additional 219,929 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors.

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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