Shares of Qifu Technology, Inc. (NASDAQ:QFIN – Get Free Report) shot up 6% during mid-day trading on Tuesday . The stock traded as high as $40.87 and last traded at $40.72. 354,354 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 1,214,994 shares. The stock had previously closed at $38.42.
Wall Street Analyst Weigh In
Separately, Citigroup raised their price target on shares of Qifu Technology from $31.44 to $37.50 and gave the company a “buy” rating in a report on Thursday, November 21st.
View Our Latest Analysis on QFIN
Qifu Technology Stock Performance
Institutional Trading of Qifu Technology
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp grew its position in shares of Qifu Technology by 48.6% during the 4th quarter. Mackenzie Financial Corp now owns 483,387 shares of the company’s stock valued at $18,552,000 after acquiring an additional 158,013 shares during the period. GF Fund Management CO. LTD. purchased a new position in Qifu Technology during the fourth quarter valued at $8,736,000. Public Employees Retirement System of Ohio grew its holdings in Qifu Technology by 43.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 407,993 shares of the company’s stock valued at $15,659,000 after purchasing an additional 123,292 shares during the period. Vise Technologies Inc. purchased a new stake in Qifu Technology in the fourth quarter worth about $239,000. Finally, Vident Advisory LLC lifted its position in shares of Qifu Technology by 9.2% during the 4th quarter. Vident Advisory LLC now owns 19,191 shares of the company’s stock valued at $737,000 after buying an additional 1,621 shares in the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.
Qifu Technology Company Profile
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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