360 Finance Inc’s Lock-Up Period To Expire Tomorrow (NASDAQ:QFIN)

360 Finance’s (NASDAQ:QFIN) lock-up period will end on Wednesday, June 12th. 360 Finance had issued 3,100,000 shares in its initial public offering on December 14th. The total size of the offering was $51,150,000 based on an initial share price of $16.50. After the end of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Several analysts recently issued reports on QFIN shares. China Renaissance Securities started coverage on 360 Finance in a research note on Tuesday, May 14th. They issued a “buy” rating and a $29.00 target price on the stock. Citigroup started coverage on shares of 360 Finance in a report on Tuesday, May 14th. They issued a “buy” rating and a $29.00 price objective for the company.

Shares of QFIN opened at $14.50 on Tuesday. 360 Finance has a one year low of $9.90 and a one year high of $24.45.

360 Finance (NASDAQ:QFIN) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.58 EPS for the quarter. The company had revenue of $227.83 million during the quarter.

A number of institutional investors and hedge funds have recently modified their holdings of QFIN. FMR LLC purchased a new stake in 360 Finance in the fourth quarter worth about $15,797,000. Millennium Management LLC purchased a new stake in 360 Finance in the fourth quarter worth about $659,000. Finally, Citigroup Inc. purchased a new stake in 360 Finance in the fourth quarter worth about $112,000. Institutional investors and hedge funds own 0.76% of the company’s stock.

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About 360 Finance

360 Finance, Inc operates a digital consumer finance platform in China. Its platform provides online consumer finance products to prime and underserved borrowers. The company was founded in 2016 and is headquartered in Shanghai, China.

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