Qifu Technology (NASDAQ:QFIN) Hits New 1-Year High – What’s Next?

Qifu Technology, Inc. (NASDAQ:QFIN) shares hit a new 52-week high during trading on Thursday . The company traded as high as $44.28 and last traded at $43.95, with a volume of 1146714 shares traded. The stock had previously closed at $43.00.

Wall Street Analyst Weigh In

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

Qifu Technology Price Performance

The firm has a 50-day moving average of $39.01 and a 200-day moving average of $32.40. The stock has a market cap of $6.98 billion, a PE ratio of 8.96, a PEG ratio of 0.32 and a beta of 0.63.

Institutional Trading of Qifu Technology

Institutional investors have recently made changes to their positions in the business. Wrapmanager Inc. boosted its stake 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 buying an additional 296 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Qifu Technology by 80.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after buying an additional 518 shares during the last quarter. DGS Capital Management LLC boosted its stake in Qifu Technology by 5.9% during the fourth quarter. DGS Capital Management LLC now owns 11,413 shares of the company’s stock valued at $438,000 after buying an additional 631 shares during the last quarter. GeoWealth Management LLC bought a new position in Qifu Technology during the fourth quarter valued at approximately $26,000. Finally, Jones Financial Companies Lllp bought a new position in Qifu Technology during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Company Profile

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.