360 Finance (NASDAQ:QFIN) Cut to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of 360 Finance (NASDAQ:QFIN) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday, BidAskClub reports.

Separately, ValuEngine raised shares of 360 Finance from a hold rating to a buy rating in a report on Thursday, January 16th.

Shares of 360 Finance stock opened at $8.73 on Tuesday. The firm has a fifty day moving average price of $9.41 and a 200 day moving average price of $9.42. 360 Finance has a 1 year low of $7.76 and a 1 year high of $24.45. The stock has a market cap of $1.28 billion, a PE ratio of 3.38 and a beta of 0.52.

360 Finance (NASDAQ:QFIN) last issued its earnings results on Wednesday, November 27th. The company reported $0.68 earnings per share (EPS) for the quarter. 360 Finance had a net margin of 31.86% and a return on equity of 47.94%. The firm had revenue of $361.38 million during the quarter.

Institutional investors have recently modified their holdings of the stock. TT International increased its holdings in 360 Finance by 116.0% in the fourth quarter. TT International now owns 10,406,855 shares of the company’s stock valued at $101,674,000 after buying an additional 5,588,260 shares in the last quarter. FMR LLC increased its holdings in 360 Finance by 1.1% in the fourth quarter. FMR LLC now owns 5,638,892 shares of the company’s stock valued at $55,092,000 after buying an additional 63,878 shares in the last quarter. Aspex Management HK Ltd purchased a new position in 360 Finance in the fourth quarter valued at $32,107,000. FIL Ltd purchased a new position in 360 Finance in the fourth quarter valued at $10,969,000. Finally, Ovata Capital Management Ltd purchased a new position in 360 Finance in the fourth quarter valued at $9,770,000. 9.06% of the stock is owned by hedge funds and other institutional investors.

About 360 Finance

360 Finance, Inc operates a digital consumer finance platform in China. Its platform provides online consumer finance products to prime and underserved borrowers. The company was founded in 2016 and is headquartered in Shanghai, China.

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