Qifu Technology (NASDAQ:QFIN) Shares Up 6% – Time to Buy?

Qifu Technology, Inc. (NASDAQ:QFIN) shares traded up 6% on Wednesday . The company traded as high as $37.81 and last traded at $37.81. 652,484 shares traded hands during trading, a decline of 50% from the average session volume of 1,307,094 shares. The stock had previously closed at $35.68.

Wall Street Analysts Forecast Growth

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

Qifu Technology Stock Up 6.2 %

The stock’s fifty day simple moving average is $31.82 and its two-hundred day simple moving average is $25.02. The firm has a market cap of $6.11 billion, a PE ratio of 7.22, a PEG ratio of 0.31 and a beta of 0.61.

Institutional Investors Weigh In On Qifu Technology

Several hedge funds have recently added to or reduced their stakes in QFIN. US Bancorp DE boosted its stake in Qifu Technology by 16.5% in the 3rd quarter. US Bancorp DE now owns 5,410 shares of the company’s stock worth $161,000 after purchasing an additional 765 shares in the last quarter. LMR Partners LLP grew its holdings in shares of Qifu Technology by 3.0% during the third quarter. LMR Partners LLP now owns 30,816 shares of the company’s stock valued at $919,000 after buying an additional 892 shares during the last quarter. XTX Topco Ltd increased its position in shares of Qifu Technology by 9.1% during the third quarter. XTX Topco Ltd now owns 11,913 shares of the company’s stock valued at $355,000 after acquiring an additional 997 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Qifu Technology in the 3rd quarter valued at approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Qifu Technology by 1.1% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 97,036 shares of the company’s stock valued at $1,915,000 after purchasing an additional 1,012 shares during the last quarter. 74.81% of the stock is owned by institutional investors.

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.