Qfin (NASDAQ:QFIN) Sees Strong Trading Volume - Here's Why

Key Points

• Qfin’s trading volume more than doubled to nearly 3 million shares, while the stock fell 5.4% to $10.935.
• Analyst sentiment remains cautious, with an overall “Hold” rating, a consensus price target of $16.31, and recent price-target reductions from JPMorgan.
• The company reported $1.12 in quarterly EPS on $567.01 million in revenue, while a director purchased 4,000 shares; institutional investors own 74.81% of outstanding stock.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report) saw unusually-strong trading volume on Monday . 2,984,892 shares were traded during trading, an increase of 102% from the previous session's volume of 1,479,035 shares.The stock last traded at $10.9350 and had previously closed at $11.57.

Wall Street Analysts Forecast Growth

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

Qfin Stock Down 5.4%

The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.33 billion, a PE ratio of 2.00 and a beta of 0.63. The company's 50 day moving average is $13.81 and its two-hundred day moving average is $13.98.

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

Insider Buying and Selling

In other news, Director Xiaohuan Chen purchased 4,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average cost of $14.41 per share, with a total value of $57,640.00. Following the completion of the purchase, the director owned 19,000 shares in the company, valued at approximately $273,790. This represents a 26.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 17.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin in the first quarter worth $29,000. SBI Securities Co. Ltd. lifted its position in Qfin by 6,796.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company's stock valued at $37,000 after purchasing an additional 1,903 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Qfin by 415.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company's stock valued at $51,000 after purchasing an additional 2,125 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Qfin by 24.1% in the 4th quarter. Parallel Advisors LLC now owns 3,373 shares of the company's stock worth $65,000 after buying an additional 656 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Qfin by 23.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company's stock worth $103,000 after buying an additional 1,016 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source