Qfin (NASDAQ:QFIN) Shares Down 4.6% After Analyst Downgrade

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFINGet Free Report) fell 4.6% during mid-day trading on Thursday after Morgan Stanley downgraded the stock from an overweight rating to an equal weight rating. Morgan Stanley now has a $13.00 price target on the stock. Qfin traded as low as $8.91 and last traded at $8.92. 529,338 shares traded hands during trading, a decline of 67% from the average session volume of 1,598,217 shares. The stock had previously closed at $9.35.

A number of other brokerages also recently weighed in on QFIN. Jefferies Financial Group restated a “buy” rating and set a $15.40 price objective on shares of Qfin in a research report on Wednesday. JPMorgan Chase & Co. cut Qfin from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $13.50 to $9.00 in a report on Wednesday. Weiss Ratings downgraded Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, July 13th. Bank of America reaffirmed a “neutral” rating and issued a $15.33 price objective on shares of Qfin in a report on Wednesday, May 27th. Finally, Citigroup cut Qfin from a “buy” rating to a “sell” rating and set a $8.00 price objective for the company. in a research report on Wednesday. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $12.29.

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Insider Buying and Selling at Qfin

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. 17.10% of the stock is currently owned by insiders.

Trending Headlines about Qfin

Here are the key news stories impacting Qfin this week:

  • Positive Sentiment: Qfin declared a semi-annual dividend alongside its second-quarter results, providing income support for shareholders. The company reported $524.96 million in quarterly revenue, a 22.23% net margin and 15.44% return on equity. Qfin second-quarter results and dividend announcement
  • Positive Sentiment: Morgan Stanley’s revised $13 price target remains materially above the current trading level, indicating potential upside if Qfin’s operating performance stabilizes, although the firm lowered its rating from Overweight to Equal Weight. Morgan Stanley rating update

Hedge Funds Weigh In On Qfin

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Qfin during the 1st quarter worth approximately $29,000. SBI Securities Co. Ltd. grew its position in Qfin by 6,796.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after acquiring an additional 1,903 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Qfin by 415.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock worth $51,000 after purchasing an additional 2,125 shares during the period. Parallel Advisors LLC lifted its position in shares of Qfin by 24.1% during the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after purchasing an additional 656 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Qfin by 23.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock valued at $103,000 after purchasing an additional 1,016 shares during the period. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qfin Trading Down 5.0%

The stock has a market capitalization of $1.08 billion, a P/E ratio of 2.13 and a beta of 0.63. The stock’s fifty day moving average price is $13.54 and its 200 day moving average price is $13.89. 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:QFINGet Free Report) last issued its earnings results on Friday, August 14th. The company reported $0.55 earnings per share for the quarter. Qfin had a return on equity of 15.44% and a net margin of 22.23%.The business had revenue of $524.96 million during the quarter. Research analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 3.74 earnings per share for the current year.

Qfin Company Profile

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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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