Qifu Technology (NASDAQ:QFIN) Stock Price Down 3.7% – Should You Sell?

Qifu Technology, Inc. (NASDAQ:QFIN)’s share price dropped 3.7% during trading on Thursday . The company traded as low as $45.10 and last traded at $45.89. Approximately 391,053 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,312,393 shares. The stock had previously closed at $47.66.

Wall Street Analyst Weigh In

Separately, Citigroup raised 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.

Qifu Technology Stock Down 3.3 %

The stock has a fifty day simple moving average of $41.03 and a 200 day simple moving average of $35.77. The firm has a market capitalization of $7.27 billion, a P/E ratio of 9.37, a PEG ratio of 0.32 and a beta of 0.59.

Institutional Investors Weigh In On Qifu Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. GeoWealth Management LLC bought a new stake in Qifu Technology during the fourth quarter valued at about $26,000. Jones Financial Companies Lllp purchased a new position in shares of Qifu Technology during the fourth quarter valued at about $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Qifu Technology in the third quarter worth about $30,000. Advisors Preferred LLC bought a new position in Qifu Technology during the fourth quarter valued at approximately $41,000. Finally, Global Retirement Partners LLC grew its holdings in Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after buying an additional 518 shares in the last quarter. 74.81% of the stock is owned by institutional investors.

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.