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360 DigiTech Inc. (NASDAQ:QFIN) Is Up 41.18 Percent Over The Past 30 Days: What’s Next?

In last trading session, 360 DigiTech Inc. (NASDAQ:QFIN) saw 1.34 million shares changing hands with its beta currently measuring 0.36. Company’s recent per share price level of $13.68 trading at $0.54 or 4.11% at ring of the bell on the day assigns it a market valuation of $2.34B. That closing price of QFIN’s stock is at a discount of -92.47% from its 52-week high price of $26.33 and is indicating a premium of 30.77% from its 52-week low price of $9.47. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.58 million shares which gives us an average trading volume of 1.01 million if we extend that period to 3-months.

For 360 DigiTech Inc. (QFIN), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.40. Splitting up the data highlights that, out of 13 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 13 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.91 in the current quarter.

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360 DigiTech Inc. (NASDAQ:QFIN) trade information

Upright in the green during last session for gaining 4.11%, in the last five days QFIN remained trading in the red while hitting it’s week-highest on Thursday, 11/17/22 when the stock touched $13.68 price level, adding 11.8% to its value on the day. 360 DigiTech Inc.’s shares saw a change of -40.34% in year-to-date performance and have moved -8.00% in past 5-day. 360 DigiTech Inc. (NASDAQ:QFIN) showed a performance of 41.18% in past 30-days. Number of shares sold short was 2.4 million shares which calculate 3.71 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $152.54 to the stock, which implies a rise of 91.03% to its current value. Analysts have been projecting $115.57 as a low price target for the stock while placing it at a high target of $233.65. It follows that stock’s current price would drop -1607.97% in reaching the projected high whereas dropping to the targeted low would mean a loss of -744.81% for stock’s current value.

360 DigiTech Inc. (QFIN) estimates and forecasts

Statistics highlight that 360 DigiTech Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company added 0.59% of value to its shares in past 6 months, showing an annual growth rate of -36.67% while that of industry is 14.10. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -43.10% in the current quarter and calculating -24.60% decrease in the next quarter. This year revenue growth is estimated to fall -2.00% from the last financial year’s standing.

1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $595.44 million for the same.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 199.00% during past 5 years.

QFIN Dividends

360 DigiTech Inc. is more likely to be releasing its next quarterly report between November 14 and November 18 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

360 DigiTech Inc. (NASDAQ:QFIN)’s Major holders

Insiders are in possession of 6.59% of company’s total shares while institution are holding 69.46 percent of that, with stock having share float percentage of 74.37%. Investors also watch the number of corporate investors in a company very closely, which is 69.46% institutions for 360 DigiTech Inc. that are currently holding shares of the company. Fountainvest China Capital Partners Gp3 Ltd. is the top institutional holder at QFIN for having 11.72 million shares of worth $202.69 million. And as of Jun 29, 2022, it was holding 8.70% of the company’s outstanding shares.

The second largest institutional holder is Aspex Management (HK) Ltd, which was holding about 10.96 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 8.14% of outstanding shares, having a total worth of $189.55 million.

On the other hand, KraneShares CSI China Internet ETF and Vanguard International Stock Index-Emerging Markets Stk are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 3.68 million shares of worth $63.62 million or 2.73% of the total outstanding shares. The later fund manager was in possession of 1.81 million shares on Jul 30, 2022, making its stake of worth around $26.24 million in the company or a holder of 1.34% of company’s stock.

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