Qifu Technology, Inc. (NASDAQ:QFIN) Short Interest Update

Qifu Technology, Inc. (NASDAQ:QFIN) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 2,410,000 shares, a drop of 17.7% from the November 30th total of 2,930,000 shares. Based on an average daily trading volume, of 1,690,000 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Ratings Changes

Separately, Citigroup lifted their target price on shares of Qifu Technology from $31.44 to $37.50 and gave the stock a “buy” rating in a research note on Thursday, November 21st.

Qifu Technology Trading Down 0.2 %

Shares of NASDAQ:QFIN traded down $0.06 on Friday, hitting $38.18. 652,469 shares of the company were exchanged, compared to its average volume of 1,322,235. The firm has a market capitalization of $6.16 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.33 and a beta of 0.64. Qifu Technology has a 1-year low of $13.71 and a 1-year high of $40.31. The stock’s 50 day moving average price is $35.27 and its 200 day moving average price is $27.82.

Hedge Funds Weigh In On Qifu Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Qifu Technology during the 3rd quarter valued at about $30,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Qifu Technology during the second quarter worth about $31,000. USA Financial Formulas purchased a new stake in Qifu Technology in the third quarter valued at approximately $41,000. Point72 DIFC Ltd acquired a new position in Qifu Technology in the 3rd quarter worth approximately $43,000. Finally, Venturi Wealth Management LLC acquired a new position in Qifu Technology in the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

About Qifu Technology

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.