Qifu Technology Inc. ADR [NASDAQ: QFIN] gained 6.63% or 1.77 points to close at $28.46 with a heavy trading volume of 7957830 shares.
The daily chart for QFIN points out that the company has recorded 56.37% gains over the past six months.
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If we look at the average trading volume of 1.39M shares, QFIN reached to a volume of 7957830 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Qifu Technology Inc. ADR [QFIN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for QFIN shares is $28.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on QFIN stock is a recommendation set at 1.15. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Nomura have made an estimate for Qifu Technology Inc. ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 18, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on July 06, 2023, representing the official price target for Qifu Technology Inc. ADR stock. Previously, the target price had yet another raise to $20.80, while China Renaissance analysts kept a Buy rating on QFIN stock.
The Average True Range (ATR) for Qifu Technology Inc. ADR is set at 0.91, with the Price to Sales ratio for QFIN stock in the period of the last 12 months amounting to 1.89. The Price to Book ratio for the last quarter was 1.44, with the Price to Cash per share for the same quarter was set at 7.58.
Trading performance analysis for QFIN stock
Qifu Technology Inc. ADR [QFIN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.88. With this latest performance, QFIN shares gained by 10.65% in over the last four-week period, additionally plugging by 56.37% over the last 6 months – not to mention a rise of 88.73% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QFIN stock in for the last two-week period is set at 71.45, with the RSI for the last a single of trading hit 73.50, and the three-weeks RSI is set at 69.96 for Qifu Technology Inc. ADR [QFIN]. The present Moving Average for the last 50 days of trading for this stock 23.20, while it was recorded at 26.89 for the last single week of trading, and 18.99 for the last 200 days.
Qifu Technology Inc. ADR [QFIN]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for QFIN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Qifu Technology Inc. ADR go to 21.28%.
An analysis of Institutional ownership at Qifu Technology Inc. ADR [QFIN]
The top three institutional holders of QFIN stocks are: MORGAN STANLEY with ownership of 8.9 million shares, which is approximately 5.7061%. ASPEX MANAGEMENT (HK) LTD, holding 7.91 million shares of the stock with an approximate value of $$155.97 million in QFIN stocks shares; and ASPEX MANAGEMENT (HK) LTD, currently with $$148.1 million in QFIN stock with ownership which is approximately 4.8114%.
