During the last session, Qifu Technology Inc. (NASDAQ:QFIN)’s traded shares were 1.32 million, with the beta value of the company hitting 0.42. At the end of the trading day, the stock’s price was $14.00, reflecting an intraday loss of -1.69% or -$0.24. The 52-week high for the QFIN share is $25.49, that puts it down -82.07 from that peak though still a striking 32.36% gain since the share price plummeted to a 52-week low of $9.47. The company’s market capitalization is $2.42B, and the average intraday trading volume over the past 10 days was 1.0 million shares, and the average trade volume was 912.32K shares over the past three months.
Qifu Technology Inc. (QFIN) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.40. QFIN has a Sell rating from 0 analyst(s) out of 13 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 12 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.05.
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Qifu Technology Inc. (NASDAQ:QFIN) trade information
Qifu Technology Inc. (QFIN) registered a -1.69% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.69% in intraday trading to $14.00 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -12.83%, and it has moved by -15.61% in 30 days. Based on these gigs, the overall price performance for the year is 7.94%. The short interest in Qifu Technology Inc. (NASDAQ:QFIN) is 2.94 million shares and it means that shorts have 3.64 day(s) to cover.
The consensus price target of analysts on Wall Street is $190.69, which implies an increase of 92.66% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $159.99 and $233.66 respectively. As a result, QFIN is trading at a discount of -1569.0% off the target high and -1042.79% off the low.
Qifu Technology Inc. (QFIN) estimates and forecasts
Statistics show that Qifu Technology Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Qifu Technology Inc. (QFIN) shares have gone up 6.54% during the last six months, with a year-to-date growth rate more than the industry average at 31.49% against 19.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 19.30% this quarter and then jump 22.70% in the quarter after that. In the rating firms’ projections, revenue will increase 1.50% compared to the previous financial year.
Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $2.71 billion by the end of Sep 2023.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 85.20%. While earnings are projected to return -30.50% in 2023.
Qifu Technology Inc. is due to release its next quarterly earnings between May 22 and May 26. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Qifu Technology Inc. is 0.72, with the dividend yield indicating at 5.14 percent, continuing the trend of increasing dividends in recent years.
Qifu Technology Inc. (NASDAQ:QFIN)’s Major holders
Qifu Technology Inc. insiders own 5.55% of total outstanding shares while institutional holders control 66.19%, with the float percentage being 70.08%. OLP Capital Management Ltd is the largest shareholder of the company, while 273 institutions own stock in it. As of Mar 30, 2023, the company held over 12.64 million shares (or 7.83% of all shares), a total value of $245.24 million in shares.
The next largest institutional holding, with 11.72 million shares, is of Fountainvest China Capital Partners Gp3 Ltd.’s that is approximately 7.26% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $227.3 million.
Also, the Mutual Funds coming in first place with the largest holdings of Qifu Technology Inc. (QFIN) shares are KraneShares CSI China Internet ETF and Vanguard International Stock Index-Emerging Markets Stk. Data provided on Dec 30, 2022 indicates that KraneShares CSI China Internet ETF owns about 4.2 million shares. This amounts to just over 2.63 percent of the company’s overall shares, with a $85.48 million market value. The same data shows that the other fund manager holds slightly less at 1.78 million, or about 1.12% of the stock, which is worth about $43.07 million.