Qifu Technology (NASDAQ:QFIN) Reaches New 1-Year High - Still a Buy?

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $44.00 and last traded at $43.51, with a volume of 320975 shares trading hands. The stock had previously closed at $42.49.

Wall Street Analysts Forecast Growth

Separately, Citigroup boosted their price target on Qifu Technology from $31.44 to $37.50 and gave the company a "buy" rating in a research note on Thursday, November 21st.

Qifu Technology Trading Down 4.4 %

The stock has a 50 day moving average of $38.47 and a 200-day moving average of $31.92. The company has a market capitalization of $6.53 billion, a P/E ratio of 8.37, a P/E/G ratio of 0.32 and a beta of 0.63.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QFIN. Creative Planning grew its holdings in Qifu Technology by 36.1% during the 2nd quarter. Creative Planning now owns 27,031 shares of the company's stock valued at $533,000 after buying an additional 7,163 shares in the last quarter. Swedbank AB grew its holdings in Qifu Technology by 156.0% during the 3rd quarter. Swedbank AB now owns 754,300 shares of the company's stock valued at $22,486,000 after buying an additional 459,700 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in Qifu Technology in the 3rd quarter valued at $494,000. Claro Advisors LLC purchased a new stake in Qifu Technology in the 3rd quarter worth $1,264,000. Finally, Blue Trust Inc. lifted its stake in Qifu Technology by 230.1% in the 3rd quarter. Blue Trust Inc. now owns 5,717 shares of the company's stock worth $170,000 after purchasing an additional 3,985 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors.

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.