Qifu Technology (NASDAQ:QFIN) Shares Up 8.1% - Time to Buy?

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) shares were up 8.1% on Wednesday . The company traded as high as $42.48 and last traded at $42.89. Approximately 306,622 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 1,195,179 shares. The stock had previously closed at $39.68.

Analyst Upgrades and Downgrades

Separately, Citigroup upped their price objective on shares of 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 2.1 %

The company's 50-day moving average is $40.20 and its 200 day moving average is $34.87. The firm has a market cap of $6.39 billion, a PE ratio of 8.20, a P/E/G ratio of 0.32 and a beta of 0.59.

Institutional Trading of Qifu Technology

Hedge funds have recently modified their holdings of the business. GeoWealth Management LLC acquired a new position in Qifu Technology during the fourth quarter valued at $26,000. Jones Financial Companies Lllp acquired a new position in shares of Qifu Technology in the 4th quarter valued at about $29,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Qifu Technology in the 3rd quarter valued at about $30,000. Advisors Preferred LLC purchased a new stake in shares of Qifu Technology in the fourth quarter worth approximately $41,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Qifu Technology during the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

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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.