Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) was down 8.4% on Thursday . The stock traded as low as $36.39 and last traded at $36.59. Approximately 2,487,320 shares were traded during trading, an increase of 51% from the average daily volume of 1,645,848 shares. The stock had previously closed at $39.93.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on QFIN shares. JPMorgan Chase & Co. started coverage on Qifu Technology in a report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price objective on the stock. Wall Street Zen downgraded Qifu Technology from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th.
Check Out Our Latest Research Report on QFIN
Qifu Technology Price Performance
The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.08 and a current ratio of 3.08. The business has a 50 day moving average price of $42.42 and a two-hundred day moving average price of $41.62. The stock has a market cap of $5.52 billion, a PE ratio of 5.37, a P/E/G ratio of 0.44 and a beta of 0.48.
Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its earnings results on Monday, May 19th. The company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.02. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. The firm had revenue of $646.19 million for the quarter, compared to the consensus estimate of $4.61 billion. Research analysts expect that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Qifu Technology
Several institutional investors and hedge funds have recently made changes to their positions in QFIN. GeoWealth Management LLC bought a new stake in Qifu Technology in the 4th quarter worth approximately $26,000. SVB Wealth LLC bought a new stake in shares of Qifu Technology in the first quarter worth about $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Qifu Technology in the first quarter worth about $29,000. Hoey Investments Inc. bought a new stake in shares of Qifu Technology in the second quarter worth about $33,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Qifu Technology during the 4th quarter valued at about $61,000. Institutional investors own 74.81% of the company's stock.
Qifu Technology Company Profile
(
Get Free Report)
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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