Qfin (NASDAQ:QFIN) Stock Price Down 4.3% - What's Next?

Key Points

• Qfin Holdings Inc. shares fell 4.3%, trading around $30.58, with a significant decrease in volume of 84% from the average daily volume.
• Wall Street analysts have downgraded Qfin from a "strong-buy" to a "buy" rating and set a price target of $65.00.
• The company reported $1.78 EPS for the recent quarter, missing the consensus estimate, and had revenue of $728 million, significantly below expectations of $4.68 billion.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report) shares dropped 4.3% during mid-day trading on Monday . The stock traded as low as $30.36 and last traded at $30.58. Approximately 264,669 shares changed hands during trading, a decline of 84% from the average daily volume of 1,700,012 shares. The stock had previously closed at $31.95.

Wall Street Analysts Forecast Growth

QFIN has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on Qfin in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 target price on the stock. Wall Street Zen downgraded Qfin from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Qfin presently has a consensus rating of "Buy" and a consensus price target of $51.73.

Qfin Trading Up 2.5%

The company has a current ratio of 3.48, a quick ratio of 3.08 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $38.64 and a 200-day simple moving average of $40.73. The firm has a market cap of $4.96 billion, a P/E ratio of 4.33, a P/E/G ratio of 0.31 and a beta of 0.39.

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

Qfin Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be issued a $0.76 dividend. This is a positive change from Qfin's previous semi-annual dividend of $0.70. The ex-dividend date is Monday, September 8th. This represents a dividend yield of 440.0%. Qfin's dividend payout ratio (DPR) is presently 19.49%.

Hedge Funds Weigh In On Qfin

Institutional investors and hedge funds have recently modified their holdings of the stock. GeoWealth Management LLC purchased a new position in shares of Qfin in the 4th quarter worth approximately $26,000. SVB Wealth LLC purchased a new position in shares of Qfin in the 1st quarter worth approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Qfin in the 1st quarter worth approximately $29,000. Hantz Financial Services Inc. boosted its holdings in shares of Qfin by 472.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company's stock worth $32,000 after purchasing an additional 610 shares during the period. Finally, Hoey Investments Inc. purchased a new position in shares of Qfin in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors 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.