Qifu Technology (NASDAQ:QFIN) Sets New 52-Week High – What’s Next?

Qifu Technology, Inc. (NASDAQ:QFIN) shares reached a new 52-week high during trading on Monday . The company traded as high as $46.96 and last traded at $46.11, with a volume of 592955 shares changing hands. The stock had previously closed at $43.19.

Wall Street Analysts Forecast Growth

Separately, Citigroup upped their price objective on 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 simple moving average of $40.82 and a 200 day simple moving average of $35.69. The company has a market capitalization of $7.36 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.32 and a beta of 0.59.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GeoWealth Management LLC acquired a new position in Qifu Technology during the fourth quarter worth $26,000. Jones Financial Companies Lllp acquired a new position in Qifu Technology during the fourth quarter worth $29,000. Wilmington Savings Fund Society FSB acquired a new position in Qifu Technology during the third quarter worth $30,000. Advisors Preferred LLC acquired a new position in Qifu Technology during the fourth quarter worth $41,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Qifu Technology in the third quarter valued at $43,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

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.