Qifu Technology (NASDAQ:QFIN) Stock Price Down 5.2% – Should You Sell?

Qifu Technology, Inc. (NASDAQ:QFIN)’s stock price dropped 5.2% during trading on Monday . The stock traded as low as $36.61 and last traded at $36.67. Approximately 621,617 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 624,857 shares. The stock had previously closed at $38.67.

Analysts Set New Price Targets

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

Qifu Technology Stock Performance

The firm has a market capitalization of $5.89 billion, a PE ratio of 7.39, a P/E/G ratio of 0.33 and a beta of 0.64. The stock has a fifty day moving average price of $35.71 and a 200-day moving average price of $28.46.

Hedge Funds Weigh In On Qifu Technology

A number of large investors have recently added to or reduced their stakes in QFIN. Wilmington Savings Fund Society FSB purchased a new position in shares of Qifu Technology in the 3rd quarter worth approximately $30,000. Ashton Thomas Private Wealth LLC acquired a new stake in Qifu Technology in the second quarter valued at approximately $31,000. USA Financial Formulas purchased a new position in Qifu Technology in the third quarter worth $41,000. Point72 DIFC Ltd purchased a new stake in shares of Qifu Technology during the 3rd quarter valued at $43,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Qifu Technology in the 3rd quarter worth $54,000. 74.81% of the stock is currently owned by institutional investors.

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.