This trade activity should not be overlooked: 360 DigiTech Inc. (QFIN)

360 DigiTech Inc. (NASDAQ: QFIN) stock jumped 0.04% on Tuesday to $22.38 against a previous-day closing price of $22.37. With 0.58 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.73 million shares. During the session, the Credit Services company that operates in wider Financial sector, reached to the highest price of $22.42 whereas the lowest price it dropped to was $21.93. The 52-week range on QFIN shows that it touched its highest point at $24.48 and its lowest point at $9.47 during that stretch. It currently has a 1-year price target of $24.69. With its current market cap of 3.45 billion, QFIN has annualized dividend of $0.82 while the current yield stands at 3.66%. Beta for the stock currently stands at 0.34.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of QFIN was down-trending over the past week, with a drop of -0.53%, but this was up by 14.77% over a month. Three-month performance surged to 78.47% while six-month performance rose 47.24%. The stock gained 10.46% in the past year, while it has gained 9.92% so far this year. A look at the trailing 12-month EPS for QFIN yields 4.11 with Next year EPS estimates of 4.89. For the next quarter, that number is 0.51. This implies an EPS growth rate of 57.80% for this year and 24.40% for next year.

Float and Shares Shorts:

At present, 156.24 million QFIN shares are outstanding with a float of 133.05 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.4 million, which was 1.54% higher than short shares on Sep 14, 2022. In addition to Mr. Haisheng Wu as the firm’s CEO & Director, Mr. Zuoli Xu CFA serves as its CFO & Director.

Institutional Ownership:

Through their ownership of 69.46% of QFIN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 28.13% of QFIN, in contrast to 23.73% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in QFIN with 6.99% of the stake, OLP Capital Management Ltd. holds 11,247,902 shares worth 11,247,902. A second-largest stockholder of QFIN, TT International Asset Management, holds 10,652,052 shares, controlling over 6.62% of the firm’s shares. Morgan Stanley Investment Managem is the third largest shareholder in QFIN, holding 5,978,718 shares or 3.72% stake. With a 3.77% stake in QFIN, the Morgan Stanley Invt. Fds. – Asia is the largest stakeholder. A total of 6,052,174 shares are owned by the mutual fund manager. The KraneShares CSI China Internet ET, which owns about 2.63% of QFIN stock, is the second-largest Mutual Fund holder. It holds 4,216,098 shares valued at 85.84 million. Global Internet Leaders SICAV-FIS holds 2.20% of the stake in QFIN, owning 3,536,220 shares worth 72.0 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for QFIN since 11 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With QFIN analysts setting a high price target of $233.65 and a low target of $136.65, the average target price over the next 12 months is $177.20. Based on these targets, QFIN could surge 944.01% to reach the target high and rise by 510.59% to reach the target low. Reaching the average price target will result in a growth of 691.78% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. QFIN will report FY 2022 earnings on 03/08/2024. Analysts have provided yearly estimates in a range of $27.39 being high and $21.86 being low. For QFIN, this leads to a yearly average estimate of $25.95. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. 360 DigiTech Inc. surprised analysts by -$0.02 when it reported $0.88 EPS against a consensus estimate of $0.90. The surprise factor in the prior quarter was -$0.07. Based on analyst estimates, the high estimate for the next quarter is $6.82 and the low estimate is $6.82. The average estimate for the next quarter is thus $6.82.

Dividends & Yield:

In terms of dividends, QFIN has a current ratio of $0.82, which is $0.82 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and QFIN currently yields $3.66. In the past year, QFIN’s dividend yield has been $3.66. Accordingly, QFIN has a current buyback yield of $0.0. This was $0.0 for the TTM.

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