Qifu Technology (NASDAQ:QFIN) Shares Down 3.4% – Time to Sell?

Shares of Qifu Technology, Inc. (NASDAQ:QFIN) were down 3.4% during mid-day trading on Friday . The stock traded as low as $33.63 and last traded at $34.00. Approximately 483,193 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,295,994 shares. The stock had previously closed at $35.21.

Wall Street Analysts Forecast Growth

Separately, Citigroup increased their price target on Qifu Technology from $31.44 to $37.50 and gave the company a “buy” rating in a report on Thursday.

Qifu Technology Stock Performance

The company’s 50-day moving average price is $31.24 and its 200 day moving average price is $24.65. The stock has a market capitalization of $5.56 billion, a P/E ratio of 7.13, a P/E/G ratio of 0.44 and a beta of 0.61.

Institutional Trading of Qifu Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC bought a new stake in shares of Qifu Technology during the second quarter valued at approximately $31,000. Blue Trust Inc. increased its holdings in Qifu Technology by 598.4% in the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock valued at $32,000 after acquiring an additional 1,484 shares during the last quarter. USA Financial Formulas purchased a new stake in Qifu Technology in the 3rd quarter worth $41,000. Point72 DIFC Ltd bought a new position in shares of Qifu Technology during the 3rd quarter valued at about $43,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Qifu Technology in the third quarter worth about $54,000. 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.