Qifu Technology (NASDAQ:QFIN) Trading 5.1% Higher – Should You Buy?

Qifu Technology, Inc. (NASDAQ:QFIN) shares rose 5.1% during trading on Friday . The company traded as high as $30.86 and last traded at $30.86. Approximately 543,833 shares changed hands during trading, a decline of 58% from the average daily volume of 1,293,261 shares. The stock had previously closed at $29.37.

Qifu Technology Stock Performance

The stock has a fifty day simple moving average of $30.53 and a two-hundred day simple moving average of $24.24. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 7.39, a P/E/G ratio of 0.42 and a beta of 0.61.

Institutional Investors Weigh In On Qifu Technology

A number of hedge funds have recently added to or reduced their stakes in QFIN. Geode Capital Management LLC increased its stake in shares of Qifu Technology by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock valued at $38,866,000 after acquiring an additional 41,139 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Qifu Technology during the 3rd quarter worth about $8,487,000. Dorsey Wright & Associates boosted its position in shares of Qifu Technology by 13.4% during the 3rd quarter. Dorsey Wright & Associates now owns 131,812 shares of the company’s stock worth $3,929,000 after purchasing an additional 15,585 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Qifu Technology by 9.1% in the 3rd quarter. XTX Topco Ltd now owns 11,913 shares of the company’s stock valued at $355,000 after buying an additional 997 shares during the period. Finally, National Bank of Canada FI increased its position in Qifu Technology by 20.9% in the 3rd quarter. National Bank of Canada FI now owns 214,910 shares of the company’s stock valued at $6,406,000 after buying an additional 37,110 shares in the last quarter. 74.81% of the stock is currently 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.