Qfin (NASDAQ:QFIN) Sets New 52-Week Low - Time to Sell?

Key Points

• Qfin (NASDAQ:QFIN) shares reached a new 52-week low of $27.58, with a recent trading price of $27.94 and a notable trading volume of 732,264 shares.
• The consensus rating for Qfin remains "Buy" with a price target of $51.73, despite various analyst revisions, including a downgrade from Wall Street Zen.
• Qfin has declared a dividend increase to $0.76 per share, up from $0.70, indicating a strong yield of 541.0% and a payout ratio of 21.19%.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $27.58 and last traded at $27.94, with a volume of 732264 shares. The stock had previously closed at $27.90.

Analysts Set New Price Targets

QFIN has been the topic of several research reports. Wall Street Zen lowered Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Qfin in a research report on Wednesday. Finally, JPMorgan Chase & Co. initiated coverage on Qfin in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $51.73.

Qfin Stock Performance

The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 3.90, a price-to-earnings-growth ratio of 0.30 and a beta of 0.42. The stock has a fifty day moving average price of $30.41 and a 200 day moving average price of $37.66.

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

Qfin Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th were issued a $0.76 dividend. This is an increase from Qfin's previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Monday, September 8th. This represents a yield of 541.0%. Qfin's payout ratio is 21.19%.

Institutional Trading of Qfin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QFIN. Mirae Asset Global Investments Co. Ltd. grew its holdings in Qfin by 10,812.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company's stock valued at $91,720,000 after buying an additional 2,023,590 shares during the last quarter. Aspex Management HK Ltd grew its holdings in Qfin by 30.5% in the 2nd quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company's stock valued at $286,712,000 after buying an additional 1,547,312 shares during the last quarter. Krane Funds Advisors LLC grew its holdings in Qfin by 24.4% in the 1st quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock valued at $315,849,000 after buying an additional 1,381,624 shares during the last quarter. Keystone Investors PTE Ltd. acquired a new stake in Qfin in the 1st quarter valued at approximately $52,814,000. Finally, Norges Bank acquired a new stake in Qfin in the 2nd quarter valued at approximately $43,265,000. Institutional investors and hedge funds own 74.81% of the company's stock.

About Qfin

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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