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

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

Analyst Upgrades and Downgrades

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

View Our Latest Research Report on QFIN

Qifu Technology Stock Up 10.0 %

The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 0.32 and a beta of 0.59. The company has a 50-day moving average price of $40.41 and a 200-day moving average price of $35.40.

Hedge Funds Weigh In On Qifu Technology

Several institutional investors have recently added to or reduced their stakes in QFIN. GeoWealth Management LLC bought a new stake in shares of Qifu Technology in the fourth quarter worth about $26,000. Jones Financial Companies Lllp acquired a new stake in Qifu Technology in the fourth quarter valued at $29,000. Wilmington Savings Fund Society FSB bought a new position in Qifu Technology during the third quarter worth about $30,000. Advisors Preferred LLC acquired a new position in shares of Qifu Technology in the fourth quarter valued at $41,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Qifu Technology during the 3rd quarter worth about $43,000. 74.81% of the stock is owned by institutional investors.

Qifu Technology Company Profile

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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.

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