Qifu Technology (NASDAQ:QFIN) Stock Price Up 6% – Time to Buy?

Qifu Technology, Inc. (NASDAQ:QFIN) shares rose 6% during mid-day trading on Wednesday . The stock traded as high as $37.81 and last traded at $37.81. Approximately 652,484 shares were traded during trading, a decline of 50% from the average daily volume of 1,307,094 shares. The stock had previously closed at $35.68.

Analyst Upgrades and Downgrades

Separately, Citigroup lifted 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 Price Performance

The company has a market cap of $6.11 billion, a PE ratio of 7.22, a PEG ratio of 0.31 and a beta of 0.61. The business has a 50-day moving average of $31.82 and a 200 day moving average of $25.02.

Hedge Funds Weigh In On Qifu Technology

Several institutional investors have recently made changes to their positions in the business. US Bancorp DE grew its position in Qifu Technology by 16.5% during the third quarter. US Bancorp DE now owns 5,410 shares of the company’s stock valued at $161,000 after buying an additional 765 shares during the period. LMR Partners LLP raised its position in Qifu Technology by 3.0% in the third quarter. LMR Partners LLP now owns 30,816 shares of the company’s stock worth $919,000 after acquiring an additional 892 shares during the period. XTX Topco Ltd boosted its stake in shares of Qifu Technology by 9.1% during the 3rd quarter. XTX Topco Ltd now owns 11,913 shares of the company’s stock worth $355,000 after acquiring an additional 997 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Qifu Technology during the 3rd quarter valued at $30,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Qifu Technology by 1.1% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 97,036 shares of the company’s stock worth $1,915,000 after purchasing an additional 1,012 shares in the last quarter. 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.