Qifu Technology (NASDAQ:QFIN) Sets New 52-Week High – Still a Buy?

Qifu Technology, Inc. (NASDAQ:QFIN)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $44.00 and last traded at $43.51, with a volume of 320975 shares traded. The stock had previously closed at $42.49.

Analyst Ratings Changes

Separately, Citigroup boosted their target price on shares of 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 Stock Up 0.7 %

The business has a fifty day simple moving average of $38.37 and a two-hundred day simple moving average of $31.58. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 0.30 and a beta of 0.63.

Institutional Investors Weigh In On Qifu Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning raised its position in Qifu Technology by 36.1% in the 2nd quarter. Creative Planning now owns 27,031 shares of the company’s stock valued at $533,000 after buying an additional 7,163 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Qifu Technology during the 3rd quarter worth about $768,000. USA Financial Formulas bought a new stake in shares of Qifu Technology in the 3rd quarter valued at about $41,000. Swedbank AB lifted its position in Qifu Technology by 156.0% during the third quarter. Swedbank AB now owns 754,300 shares of the company’s stock worth $22,486,000 after acquiring an additional 459,700 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Qifu Technology in the third quarter valued at about $494,000. 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.