Qifu Technology (NASDAQ:QFIN) Shares Gap Up – Time to Buy?

Shares of Qifu Technology, Inc. (NASDAQ:QFINGet Free Report) gapped up before the market opened on Friday . The stock had previously closed at $39.97, but opened at $43.12. Qifu Technology shares last traded at $42.73, with a volume of 403,284 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised their price objective on shares of Qifu Technology from $31.44 to $37.50 and gave the stock a “buy” rating in a research note on Thursday, November 21st.

View Our Latest Research Report on QFIN

Qifu Technology Price Performance

The firm’s 50 day moving average price is $40.41 and its 200-day moving average price is $35.33. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 0.32 and a beta of 0.59.

Institutional Investors Weigh In On Qifu Technology

Several hedge funds and other institutional investors have recently modified their holdings of QFIN. Mackenzie Financial Corp lifted its position in Qifu Technology by 48.6% in the fourth quarter. Mackenzie Financial Corp now owns 483,387 shares of the company’s stock worth $18,552,000 after purchasing an additional 158,013 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Qifu Technology in the fourth quarter valued at about $8,736,000. Public Employees Retirement System of Ohio increased its position in Qifu Technology by 43.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 407,993 shares of the company’s stock worth $15,659,000 after purchasing an additional 123,292 shares during the period. Vise Technologies Inc. acquired a new stake in Qifu Technology in the fourth quarter worth about $239,000. Finally, Vident Advisory LLC increased its position in Qifu Technology by 9.2% in the fourth quarter. Vident Advisory LLC now owns 19,191 shares of the company’s stock worth $737,000 after purchasing an additional 1,621 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Company Profile

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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.

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