Short Interest in Qifu Technology, Inc. (NASDAQ:QFIN) Drops By 30.1%

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 2,000,000 shares, a drop of 30.1% from the September 15th total of 2,860,000 shares. Based on an average daily trading volume, of 1,640,000 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On Qifu Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of Qifu Technology during the 2nd quarter worth $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 valued at $32,000 after acquiring an additional 1,484 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Qifu Technology in the 3rd quarter valued at approximately $41,000. Janiczek Wealth Management LLC boosted its stake in Qifu Technology by 131.4% during the first quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company's stock worth $44,000 after buying an additional 1,355 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Qifu Technology by 67.3% during the 2nd quarter. Signaturefd LLC now owns 7,283 shares of the company's stock worth $144,000 after purchasing an additional 2,931 shares during the period. 74.81% of the stock is owned by institutional investors.

Qifu Technology Stock Performance

Shares of NASDAQ QFIN traded up $0.56 during midday trading on Friday, hitting $33.03. 1,343,394 shares of the company traded hands, compared to its average volume of 1,301,696. Qifu Technology has a 12-month low of $13.68 and a 12-month high of $33.72. The stock has a 50-day moving average price of $26.04 and a 200 day moving average price of $21.85. The firm has a market cap of $5.33 billion, a P/E ratio of 7.94, a P/E/G ratio of 0.43 and a beta of 0.62.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.23. Qifu Technology had a net margin of 28.06% and a return on equity of 21.82%. The firm had revenue of $572.44 million for the quarter, compared to the consensus estimate of $582.69 million. As a group, equities analysts expect that Qifu Technology will post 5.08 earnings per share for the current year.

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, September 27th will be given a dividend of $0.60 per share. This represents a yield of 4.7%. This is an increase from Qifu Technology's previous semi-annual dividend of $0.57. The ex-dividend date is Friday, September 27th. Qifu Technology's dividend payout ratio is 28.37%.

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.