Qifu Technology (NASDAQ:QFIN) Reaches New 12-Month High – Here’s What Happened

Qifu Technology, Inc. (NASDAQ:QFIN)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $35.44 and last traded at $35.40, with a volume of 676853 shares traded. The stock had previously closed at $33.85.

Analyst Ratings Changes

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

Qifu Technology Stock Up 6.2 %

The company’s 50-day moving average is $32.08 and its 200-day moving average is $25.11. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 0.31 and a beta of 0.61.

Institutional Trading of Qifu Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Qifu Technology in the third quarter valued at approximately $30,000. Ashton Thomas Private Wealth LLC purchased a new stake in Qifu Technology in the second quarter valued at $31,000. Blue Trust Inc. lifted its stake in shares of Qifu Technology by 598.4% in the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock valued at $32,000 after purchasing an additional 1,484 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Qifu Technology during the 3rd quarter worth $41,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Qifu Technology during the 3rd quarter worth $43,000. Institutional investors and hedge funds 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.