Today’s big question for investors is, “what’s going on with 360 Finance, Inc. (NASDAQ:QFIN) stock? Its price is nose-diving -0.41 points, trading at $9.07 levels, and is down -4.32% from its previous close of $9.48. The shares seem to have an active trading volume day with a reported 404017 contracts so far this session. QFIN shares had a relatively better volume day versus average trading capacity of 335.28 thousand shares, but with a 40.47 million float and a 18.95% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for QFIN stock indicates that the average analyst price target is $15.13 per share. This means the stock has a potential increase of 66.81% from where the QFIN share price has been trading recently which is between $9.18 and $9.54. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $¥94.86. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $¥131.40.
Looking at the current readings for 360 Finance, Inc., the two-week RSI stands at 54.01. This figure suggests that QFIN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current QFIN readings is similarly very revealing as it has a stochastic reading of 86.61% at this stage. This figure means that QFIN share price today is being oversold.
Technical chart claims that 360 Finance, Inc. (QFIN) would settle between $9.62/share to $9.76/share level. However, if the stock price goes below the $9.26 mark, then the market for 360 Finance, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $9.04 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.72. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Citigroup, assumed coverage of QFIN assigning Buy rating, according to their opinion released on January 18.
QFIN equity has an average rating of 1.67, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated 360 Finance, Inc. (NASDAQ:QFIN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, QFIN stock price is currently trading at 2.33X forward 12-month Consensus EPS estimates, and its P/E ratio is 3.6 while for the average stock in the same group, the multiple is 21. 360 Finance, Inc. current P/B ratio of 1.4 means it is trading at a discount against its industry’s 4.7.