Qifu Technology, Inc. (NASDAQ:QFIN) Sees Large Growth in Short Interest

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) saw a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 3,870,000 shares, a growth of 36.3% from the January 31st total of 2,840,000 shares. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 2.9 days.

Hedge Funds Weigh In On Qifu Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in QFIN. abrdn plc boosted its holdings in shares of Qifu Technology by 23.1% in the 3rd quarter. abrdn plc now owns 146,416 shares of the company's stock valued at $4,355,000 after buying an additional 27,481 shares in the last quarter. US Bancorp DE lifted its position in Qifu Technology by 16.5% during the third quarter. US Bancorp DE now owns 5,410 shares of the company's stock valued at $161,000 after acquiring an additional 765 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Qifu Technology by 66.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,369,278 shares of the company's stock valued at $40,818,000 after acquiring an additional 548,678 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in Qifu Technology by 54.8% in the third quarter. Los Angeles Capital Management LLC now owns 149,255 shares of the company's stock worth $4,449,000 after purchasing an additional 52,814 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Qifu Technology during the third quarter worth $54,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

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Qifu Technology Trading Down 2.1 %

Shares of NASDAQ:QFIN traded down $0.85 on Friday, reaching $40.52. The company had a trading volume of 1,290,051 shares, compared to its average volume of 1,224,113. The firm has a market capitalization of $6.39 billion, a PE ratio of 8.20, a PEG ratio of 0.32 and a beta of 0.59. Qifu Technology has a 52-week low of $15.16 and a 52-week high of $46.25. The firm's 50 day simple moving average is $40.15 and its 200-day simple moving average is $34.62.

Wall Street Analyst Weigh In

Separately, Citigroup upped their target price on Qifu Technology from $31.44 to $37.50 and gave the stock a "buy" rating in a report on Thursday, November 21st.

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.