Qifu Technology, Inc. (NASDAQ:QFIN) Sees Significant Decline in Short Interest

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

Qifu Technology Trading Up 0.7 %

NASDAQ:QFIN opened at $25.08 on Monday. The firm has a market cap of $4.05 billion, a P/E ratio of 6.50, a price-to-earnings-growth ratio of 0.43 and a beta of 0.61. The stock has a 50 day moving average of $22.19 and a two-hundred day moving average of $20.19. Qifu Technology has a 12 month low of $13.68 and a 12 month high of $26.50.

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

Qifu Technology Increases Dividend

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

Institutional Investors Weigh In On Qifu Technology

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