Qifu Technology (NASDAQ:QFIN) Stock Price Down 4.2% - Should You Sell?

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) shares were down 4.2% on Friday . The company traded as low as $40.33 and last traded at $40.40. Approximately 178,117 shares were traded during trading, a decline of 81% from the average daily volume of 956,621 shares. The stock had previously closed at $42.19.

Analyst Ratings Changes

Separately, Citigroup lifted their price objective on 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

The business's 50 day moving average price is $38.24 and its 200-day moving average price is $31.45. The firm has a market capitalization of $6.46 billion, a PE ratio of 8.30, a P/E/G ratio of 0.30 and a beta of 0.63.

Institutional Investors Weigh In On Qifu Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. boosted its position in Qifu Technology by 115.5% in the 2nd quarter. Sei Investments Co. now owns 36,059 shares of the company's stock valued at $711,000 after buying an additional 19,327 shares during the period. Creative Planning raised its stake in Qifu Technology by 36.1% during the 2nd quarter. Creative Planning now owns 27,031 shares of the company's stock worth $533,000 after acquiring an additional 7,163 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Qifu Technology by 3.2% in the 3rd quarter. SG Americas Securities LLC now owns 64,555 shares of the company's stock valued at $1,924,000 after purchasing an additional 2,008 shares during the last quarter. Diversified Trust Co purchased a new stake in Qifu Technology in the 3rd quarter valued at $768,000. Finally, USA Financial Formulas purchased a new stake in Qifu Technology during the 3rd quarter valued at approximately $41,000. Hedge funds and other 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.