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

Qifu Technology, Inc. (NASDAQ:QFIN) shares gapped up prior to trading 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.

Analysts Set New Price Targets

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

Qifu Technology Trading Up 8.1 %

The company has a market cap of $6.81 billion, a P/E ratio of 8.74, a PEG ratio of 0.32 and a beta of 0.59. The business has a 50 day moving average price of $40.41 and a 200-day moving average price of $35.33.

Institutional Investors Weigh In On Qifu Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Qifu Technology by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock worth $38,866,000 after purchasing an additional 41,139 shares in the last quarter. Natixis Advisors LLC acquired a new position in shares of Qifu Technology during the 3rd quarter worth approximately $654,000. Asset Management One Co. Ltd. increased its holdings in shares of Qifu Technology by 66.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company’s stock worth $1,255,000 after acquiring an additional 13,170 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Qifu Technology by 148.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,343 shares of the company’s stock worth $24,454,000 after acquiring an additional 489,865 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Qifu Technology during the 3rd quarter worth approximately $1,061,000. Institutional investors own 74.81% of the company’s stock.

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.