Qifu Technology, Inc. (NASDAQ:QFIN) Short Interest Down 24.1% in August

Qifu Technology, Inc. (NASDAQ:QFIN) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 3,090,000 shares, a decline of 24.1% from the August 15th total of 4,070,000 shares. Based on an average daily trading volume, of 1,380,000 shares, the short-interest ratio is currently 2.2 days.

Qifu Technology Stock Up 0.7 %

Shares of NASDAQ QFIN opened at $25.08 on Monday. Qifu Technology has a twelve month low of $13.68 and a twelve month high of $26.50. The business has a fifty day simple moving average of $22.19 and a two-hundred day simple moving average of $20.19. The firm has a market cap of $4.05 billion, a PE ratio of 6.50, a price-to-earnings-growth ratio of 0.43 and a beta of 0.61.

Qifu Technology (NASDAQ:QFIN) last released its quarterly earnings results on Tuesday, August 13th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.99 by $0.23. Qifu Technology had a net margin of 28.06% and a return on equity of 21.82%. The business had revenue of $572.44 million during the quarter, compared to analyst estimates of $582.69 million. On average, research analysts expect that Qifu Technology will post 4.94 earnings per share for the current year.

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.57. This represents a dividend yield of 4.7%. Qifu Technology’s payout ratio is 29.53%.

Institutional Trading of Qifu Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of Qifu Technology during the second quarter worth $31,000. Blue Trust Inc. raised its stake in shares of Qifu Technology by 598.4% during the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock valued at $32,000 after buying an additional 1,484 shares during the last quarter. Janiczek Wealth Management LLC lifted its holdings in shares of Qifu Technology by 131.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company’s stock valued at $44,000 after buying an additional 1,355 shares during the period. Parallel Advisors LLC boosted its stake in shares of Qifu Technology by 83.9% in the fourth quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock worth $38,000 after buying an additional 1,107 shares during the last quarter. Finally, BOCHK Asset Management Ltd purchased a new stake in Qifu Technology in the 4th quarter worth approximately $95,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

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.