Qifu Technology, Inc. (NASDAQ:QFIN) Short Interest Up 36.3% in February

Qifu Technology, Inc. (NASDAQ:QFIN) saw a large growth in short interest in 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 trading volume, of 1,330,000 shares, the short-interest ratio is presently 2.9 days.

Institutional Trading of Qifu Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QFIN. Aspex Management HK Ltd raised its stake in shares of Qifu Technology by 11.3% in the fourth quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company’s stock worth $244,550,000 after purchasing an additional 648,088 shares during the last quarter. AQR Capital Management LLC raised its position in Qifu Technology by 11.9% during the 4th quarter. AQR Capital Management LLC now owns 2,432,131 shares of the company’s stock worth $93,345,000 after buying an additional 258,586 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Qifu Technology during the 4th quarter worth approximately $92,150,000. State Street Corp lifted its stake in Qifu Technology by 5.8% during the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company’s stock valued at $70,637,000 after acquiring an additional 128,381 shares during the period. Finally, Man Group plc boosted its holdings in shares of Qifu Technology by 10.4% in the 4th quarter. Man Group plc now owns 1,529,897 shares of the company’s stock valued at $58,717,000 after acquiring an additional 144,328 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup raised their price target 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 Trading Up 9.4 %

Shares of NASDAQ:QFIN traded up $3.74 on Wednesday, hitting $43.42. 1,212,403 shares of the company were exchanged, compared to its average volume of 1,218,527. The firm has a market capitalization of $6.84 billion, a P/E ratio of 8.79, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59. Qifu Technology has a 1-year low of $15.14 and a 1-year high of $46.25. The stock’s 50 day moving average price is $39.98 and its 200 day moving average price is $34.51.

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.