Qifu Technology, Inc. (NASDAQ:QFIN – Get Free Report) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 3,420,000 shares, a drop of 15.3% from the May 15th total of 4,040,000 shares. Based on an average trading volume of 1,250,000 shares, the short-interest ratio is currently 2.7 days.
Wall Street Analyst Weigh In
Separately, Citigroup raised their target price on shares of Qifu Technology from $23.54 to $23.80 and gave the company a “buy” rating in a research note on Thursday, March 14th.
Read Our Latest Stock Report on Qifu Technology
Hedge Funds Weigh In On Qifu Technology
Qifu Technology Price Performance
QFIN opened at $20.10 on Monday. The business has a fifty day simple moving average of $19.63 and a 200 day simple moving average of $17.09. Qifu Technology has a 1 year low of $13.68 and a 1 year high of $21.57. The company has a market capitalization of $3.24 billion, a PE ratio of 5.21, a price-to-earnings-growth ratio of 0.44 and a beta of 0.50.
Qifu Technology (NASDAQ:QFIN – Get Free Report) last announced its earnings results on Sunday, May 19th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. Qifu Technology had a net margin of 26.80% and a return on equity of 20.96%. The company had revenue of $575.21 million during the quarter, compared to analysts’ expectations of $590.38 million. Equities analysts anticipate that Qifu Technology will post 4.19 earnings per share for the current fiscal year.
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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