Qifu Technology (NASDAQ:QFIN) PT Raised to $23.80 at Citigroup

Qifu Technology (NASDAQ:QFIN) had its price objective upped by Citigroup from $23.54 to $23.80 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Nomura initiated coverage on Qifu Technology in a report on Monday, December 18th. They issued a buy rating on the stock.

Qifu Technology Price Performance

Shares of QFIN stock traded up $0.16 during trading hours on Thursday, reaching $18.47. 1,719,540 shares of the company traded hands, compared to its average volume of 1,090,591. Qifu Technology has a 12-month low of $13.12 and a 12-month high of $20.40. The company has a market cap of $2.98 billion, a P/E ratio of 5.05, a P/E/G ratio of 0.45 and a beta of 0.60. The firm has a 50-day moving average price of $15.23 and a 200 day moving average price of $15.36.

Institutional Trading of Qifu Technology

Several hedge funds have recently modified their holdings of QFIN. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Qifu Technology by 135.4% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 49,954 shares of the company’s stock valued at $698,000 after purchasing an additional 28,733 shares during the last quarter. Raymond James & Associates increased its position in shares of Qifu Technology by 5.1% during the 1st quarter. Raymond James & Associates now owns 17,840 shares of the company’s stock valued at $275,000 after purchasing an additional 865 shares during the last quarter. American Century Companies Inc. increased its position in shares of Qifu Technology by 8.3% during the 1st quarter. American Century Companies Inc. now owns 55,117 shares of the company’s stock valued at $848,000 after purchasing an additional 4,237 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Qifu Technology during the 1st quarter valued at approximately $346,000. Finally, BlackRock Inc. increased its position in shares of Qifu Technology by 7.8% during the 1st quarter. BlackRock Inc. now owns 4,116,741 shares of the company’s stock valued at $63,355,000 after purchasing an additional 299,331 shares during the last quarter. 64.21% of the stock is owned by hedge funds and other institutional investors.

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.