Qifu Technology, Inc. (NASDAQ:QFIN) Short Interest Update

Qifu Technology, Inc. (NASDAQ:QFIN) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 2,410,000 shares, a decrease of 17.7% from the November 30th total of 2,930,000 shares. Based on an average daily trading volume, of 1,690,000 shares, the days-to-cover ratio is presently 1.4 days.

Qifu Technology Stock Performance

Shares of NASDAQ QFIN traded down $0.46 during trading hours on Monday, hitting $37.72. The company’s stock had a trading volume of 1,075,354 shares, compared to its average volume of 1,321,251. The business has a 50-day simple moving average of $35.27 and a 200-day simple moving average of $27.87. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 0.33 and a beta of 0.64. Qifu Technology has a 12 month low of $13.71 and a 12 month high of $40.31.

Institutional Investors Weigh In On Qifu Technology

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Qifu Technology by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock valued at $38,866,000 after buying an additional 41,139 shares during the period. Natixis Advisors LLC purchased a new position in shares of Qifu Technology in the 3rd quarter valued at approximately $654,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Qifu Technology by 148.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,343 shares of the company’s stock valued at $24,454,000 after purchasing an additional 489,865 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Qifu Technology in the third quarter worth $1,061,000. Finally, Point72 Hong Kong Ltd raised its holdings in Qifu Technology by 443.0% in the third quarter. Point72 Hong Kong Ltd now owns 535,498 shares of the company’s stock worth $15,963,000 after purchasing an additional 436,882 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.