Qifu Technology (NASDAQ:QFIN) Reaches New 1-Year High at $25.00

Qifu Technology, Inc. (NASDAQ:QFIN) shares reached a new 52-week high on Tuesday . The company traded as high as $25.00 and last traded at $24.83, with a volume of 602220 shares traded. The stock had previously closed at $24.48.

Qifu Technology Stock Performance

The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 0.53 and a beta of 0.61. The business has a fifty day moving average of $20.15 and a two-hundred day moving average of $18.81.

Qifu Technology (NASDAQ:QFIN) last released its quarterly earnings results on Sunday, May 19th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. The business had revenue of $575.21 million for the quarter, compared to analysts’ expectations of $590.38 million. Qifu Technology had a return on equity of 21.99% and a net margin of 28.06%. On average, equities research analysts forecast that Qifu Technology, Inc. will post 4.1 earnings per share for the current year.

Institutional Investors Weigh In On Qifu Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sompo Asset Management Co. Ltd. lifted its stake in Qifu Technology by 2.4% in the 4th quarter. Sompo Asset Management Co. Ltd. now owns 38,500 shares of the company’s stock valued at $609,000 after buying an additional 890 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in Qifu Technology by 1.1% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 97,036 shares of the company’s stock valued at $1,915,000 after buying an additional 1,012 shares in the last quarter. Parallel Advisors LLC lifted its stake in Qifu Technology by 83.9% in the 4th quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock valued at $38,000 after buying an additional 1,107 shares in the last quarter. Handelsinvest Investeringsforvaltning lifted its stake in Qifu Technology by 14.3% in the 1st quarter. Handelsinvest Investeringsforvaltning now owns 10,828 shares of the company’s stock valued at $200,000 after buying an additional 1,353 shares in the last quarter. Finally, Janiczek Wealth Management LLC lifted its stake in Qifu Technology by 131.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company’s stock valued at $44,000 after buying an additional 1,355 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

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.