Qifu Technology (NASDAQ:QFIN) Hits New 1-Year High – What’s Next?

Shares of Qifu Technology, Inc. (NASDAQ:QFIN) reached a new 52-week high on Tuesday . The company traded as high as $35.44 and last traded at $35.40, with a volume of 676853 shares changing hands. The stock had previously closed at $33.85.

Wall Street Analysts Forecast Growth

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

Qifu Technology Price Performance

The business has a 50-day simple moving average of $31.61 and a 200 day simple moving average of $24.91. The firm has a market cap of $5.75 billion, a PE ratio of 7.02, a PEG ratio of 0.31 and a beta of 0.61.

Institutional Investors Weigh In On Qifu Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new stake in shares of Qifu Technology in the third quarter worth $613,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Qifu Technology during the 3rd quarter valued at $30,000. Sanctuary Advisors LLC bought a new stake in Qifu Technology during the third quarter valued at about $1,061,000. Geode Capital Management LLC lifted its position in shares of Qifu Technology by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock valued at $38,866,000 after acquiring an additional 41,139 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Qifu Technology in the third quarter worth about $8,487,000. Institutional investors own 74.81% of the company’s stock.

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.