Short Interest in Qifu Technology, Inc. (NASDAQ:QFIN) Decreases By 19.5%

Qifu Technology, Inc. (NASDAQ:QFIN) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 1,610,000 shares, a drop of 19.5% from the September 30th total of 2,000,000 shares. Based on an average daily trading volume, of 1,690,000 shares, the days-to-cover ratio is presently 1.0 days.

Hedge Funds Weigh In On Qifu Technology

A number of institutional investors and hedge funds have recently bought and sold shares of QFIN. USA Financial Formulas purchased a new position in Qifu Technology in the third quarter valued at about $41,000. Ashton Thomas Private Wealth LLC purchased a new stake in Qifu Technology during the 2nd quarter valued at $31,000. Blue Trust Inc. grew its stake in shares of Qifu Technology by 598.4% during the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock valued at $32,000 after purchasing an additional 1,484 shares during the period. Signaturefd LLC grew its position in shares of Qifu Technology by 67.3% during the second quarter. Signaturefd LLC now owns 7,283 shares of the company’s stock worth $144,000 after purchasing an additional 2,931 shares in the last quarter. Finally, IFM Investors Pty Ltd purchased a new position in shares of Qifu Technology in the 3rd quarter worth $227,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Trading Up 4.1 %

Shares of NASDAQ QFIN traded up $1.36 on Friday, reaching $34.82. 2,229,427 shares of the company traded hands, compared to its average volume of 1,310,991. The stock has a market capitalization of $5.62 billion, a PE ratio of 9.02, a P/E/G ratio of 0.47 and a beta of 0.62. Qifu Technology has a fifty-two week low of $13.71 and a fifty-two week high of $35.02. The company has a 50 day moving average of $28.43 and a 200 day moving average of $22.84.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.23. Qifu Technology had a return on equity of 21.82% and a net margin of 28.06%. The business had revenue of $572.44 million during the quarter, compared to analyst estimates of $582.69 million. As a group, research analysts expect that Qifu Technology will post 5.08 earnings per share for the current year.

Qifu Technology Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, September 27th will be issued a dividend of $0.60 per share. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.57. The ex-dividend date is Friday, September 27th. This represents a dividend yield of 4.7%. Qifu Technology’s payout ratio is presently 30.57%.

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.