Short Interest in Qifu Technology, Inc. (NASDAQ:QFIN) Declines By 17.7%

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 2,410,000 shares, a decrease of 17.7% from the November 30th total of 2,930,000 shares. Based on an average trading volume of 1,690,000 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Investors Weigh In On Qifu Technology

Several institutional investors have recently modified their holdings of the company. DGS Capital Management LLC acquired a new position in shares of Qifu Technology during the 3rd quarter worth $321,000. Franklin Resources Inc. increased its holdings in Qifu Technology by 12.9% during the 3rd quarter. Franklin Resources Inc. now owns 61,616 shares of the company's stock valued at $2,031,000 after acquiring an additional 7,033 shares in the last quarter. Tidal Investments LLC acquired a new position in Qifu Technology during the third quarter worth about $613,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Qifu Technology in the third quarter valued at about $30,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Qifu Technology in the third quarter valued at about $1,061,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Analysts Set New Price Targets

Separately, Citigroup boosted 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 Stock Performance

QFIN traded down $0.06 on Friday, hitting $38.18. 652,469 shares of the company were exchanged, compared to its average volume of 1,322,235. Qifu Technology has a fifty-two week low of $13.71 and a fifty-two week high of $40.31. The firm has a market capitalization of $6.16 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.33 and a beta of 0.64. The business's fifty day moving average is $35.27 and its 200 day moving average is $27.87.

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.