Qifu Technology, Inc. (NASDAQ:QFIN) Short Interest Update

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 8,240,000 shares, an increase of 123.9% from the March 15th total of 3,680,000 shares. Based on an average trading volume of 1,730,000 shares, the short-interest ratio is presently 4.8 days. Approximately 7.0% of the company's stock are sold short.

Qifu Technology Price Performance

Shares of QFIN stock traded down $0.92 during trading hours on Friday, reaching $35.62. 1,392,952 shares of the stock were exchanged, compared to its average volume of 1,537,312. The business's fifty day moving average is $41.55 and its two-hundred day moving average is $38.03. The firm has a market capitalization of $5.61 billion, a P/E ratio of 7.21, a P/E/G ratio of 0.32 and a beta of 0.53. Qifu Technology has a 12-month low of $17.95 and a 12-month high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings data on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating analysts' consensus estimates of $1.68 by $0.14. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The company had revenue of $613.89 million for the quarter, compared to the consensus estimate of $581.67 million. As a group, equities research analysts predict that Qifu Technology will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.70 per share. This represents a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's payout ratio is currently 23.79%.

Wall Street Analyst Weigh In

Separately, Bank of America lifted their target price on Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a report on Wednesday, March 26th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. GeoWealth Management LLC purchased a new stake in Qifu Technology in the fourth quarter valued at $26,000. Jones Financial Companies Lllp purchased a new stake in shares of Qifu Technology in the 4th quarter valued at about $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Qifu Technology in the 3rd quarter valued at about $30,000. Advisors Preferred LLC purchased a new position in Qifu Technology during the 4th quarter worth approximately $41,000. Finally, Global Retirement Partners LLC increased its position in Qifu Technology by 80.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after buying an additional 518 shares during the period. Institutional investors and hedge funds 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.