Qifu Technology (NASDAQ:QFIN) Shares Gap Up – Should You Buy?

Qifu Technology, Inc. (NASDAQ:QFIN)’s stock price 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 traded.

Analyst Upgrades and Downgrades

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

Qifu Technology Price Performance

The firm has a market cap of $6.64 billion, a PE ratio of 8.53, a P/E/G ratio of 0.32 and a beta of 0.59. The stock has a 50-day moving average price of $40.32 and a 200 day moving average price of $35.14.

Hedge Funds Weigh In On Qifu Technology

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

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.