Qifu Technology (NASDAQ:QFIN) Trading 8.1% Higher – What’s Next?

Qifu Technology, Inc. (NASDAQ:QFIN) shares rose 8.1% during trading on Wednesday . The company traded as high as $42.48 and last traded at $42.89. Approximately 306,622 shares traded hands during trading, a decline of 74% from the average daily volume of 1,195,179 shares. The stock had previously closed at $39.68.

Analyst Upgrades and Downgrades

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 note on Thursday, November 21st.

Qifu Technology Trading Up 8.8 %

The business has a 50 day simple moving average of $39.98 and a two-hundred day simple moving average of $34.51. The company has a market cap of $6.80 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59.

Institutional Trading of Qifu Technology

A number of hedge funds have recently added to or reduced their stakes in QFIN. Wrapmanager Inc. grew its position in Qifu Technology by 4.1% during the fourth quarter. Wrapmanager Inc. now owns 7,554 shares of the company’s stock valued at $290,000 after acquiring an additional 296 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after purchasing an additional 518 shares in the last quarter. DGS Capital Management LLC grew its holdings in shares of Qifu Technology by 5.9% during the 4th quarter. DGS Capital Management LLC now owns 11,413 shares of the company’s stock worth $438,000 after purchasing an additional 631 shares during the period. GeoWealth Management LLC acquired a new stake in Qifu Technology during the 4th quarter worth approximately $26,000. Finally, Jones Financial Companies Lllp purchased a new position in Qifu Technology in the fourth quarter valued at approximately $29,000. 74.81% of the stock is owned by institutional investors and hedge funds.

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.