Qifu Technology (NASDAQ:QFIN) Trading Down 5.3% – What’s Next?

Qifu Technology, Inc. (NASDAQ:QFIN) was down 5.3% on Monday . The stock traded as low as $35.91 and last traded at $36.10. Approximately 1,175,584 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 1,309,777 shares. The stock had previously closed at $38.11.

Analyst Ratings Changes

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

Qifu Technology Price Performance

The business has a 50 day moving average price of $32.56 and a 200 day moving average price of $25.38. The stock has a market capitalization of $5.84 billion, a PE ratio of 7.71, a PEG ratio of 0.32 and a beta of 0.61.

Institutional Trading of Qifu Technology

Several institutional investors have recently added to or reduced their stakes in QFIN. Wilmington Savings Fund Society FSB purchased a new position in shares of Qifu Technology during the 3rd quarter valued at about $30,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Qifu Technology in the second quarter worth approximately $31,000. Blue Trust Inc. increased its stake in shares of Qifu Technology by 598.4% in the second quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock worth $32,000 after purchasing an additional 1,484 shares in the last quarter. USA Financial Formulas bought a new position in Qifu Technology in the 3rd quarter worth $41,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Qifu Technology in the third quarter valued at about $43,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

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.