Qifu Technology (NASDAQ:QFIN) Trading 5.1% Higher – Still a Buy?

Qifu Technology, Inc. (NASDAQ:QFIN) rose 5.1% on Friday . The company traded as high as $30.86 and last traded at $30.86. Approximately 543,833 shares changed hands during trading, a decline of 58% from the average daily volume of 1,293,261 shares. The stock had previously closed at $29.37.

Qifu Technology Price Performance

The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 7.06, a P/E/G ratio of 0.41 and a beta of 0.61. The firm’s fifty day moving average price is $30.31 and its 200-day moving average price is $24.12.

Qifu Technology (NASDAQ:QFIN) last issued its earnings results on Tuesday, August 13th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $582.69 million. On average, research analysts predict that Qifu Technology, Inc. will post 5.04 earnings per share for the current year.

Institutional Investors Weigh In On Qifu Technology

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in shares of Qifu Technology by 38.8% during the first quarter. SG Americas Securities LLC now owns 60,683 shares of the company’s stock valued at $1,118,000 after acquiring an additional 16,965 shares during the last quarter. Swiss National Bank lifted its holdings in Qifu Technology by 3.7% during the 1st quarter. Swiss National Bank now owns 282,907 shares of the company’s stock worth $5,214,000 after buying an additional 10,200 shares during the period. Avantax Advisory Services Inc. grew its position in shares of Qifu Technology by 7.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 40,337 shares of the company’s stock valued at $743,000 after buying an additional 2,911 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Qifu Technology by 88.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 102,000 shares of the company’s stock valued at $1,880,000 after buying an additional 47,800 shares during the period. Finally, SageView Advisory Group LLC bought a new position in shares of Qifu Technology during the first quarter worth about $186,000. 74.81% of the stock is owned by 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.