With the current price of $12.94, the stock of 360 Finance, Inc. (NASDAQ:QFIN) concluded the trading session seeing its price rise by 0.74 points or at a gain of 6.07% compared to its previous day’s closing price of $12.2. About 2.567 million shares of the stock changed hands on the day. The trading volume of QFIN’s shares during the past session compares with the stock’s average daily trading volume of 1.601 million shares. On the other hand, a float of 84.35 million shares and a weekly performance of 6.5% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $18.67 for QFIN’s share which suggests that the stock, price of which is currently buoying between $12.3 and $13.12, has a potential to gain 44.28%.

The latest data released on August 14, 2020 shows that the short float in the 360 Finance, Inc.’s stock is trending upward as short interest in QFIN shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the QFIN is currently comprised of 0.92% of the float as the volume of shorted shares inclined by 359386 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 1.139 million shares from the previous figure of 779242 shares. Stock’s average intraday volume is now standing at 1.939 million shares which indicate that the days to cover the shorts are nearly 1.

After concluding the day’s trading, price of 360 Finance, Inc. (NASDAQ:QFIN) is up $0.79 over the week and it is -$0.7 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $18.06 that was attained on 07/20/20.

The stock has traded as low as $6.37 in past 52-week, and its current price is 103.14% above from that 52-week low price mark recorded on 03/18/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 0. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.

Current indicators are pointing at 49.25 as 14-days RSI of 360 Finance, Inc. This means that the QFIN is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 44.74%, implying stock’s share price is buoying in a neutral state.

Technical chart is showing 1st resistance point of $13.27 for the QFIN’s share while placing it at a 2nd resistance point of $13.61 to be settled at. But if the stock takes a plunge lower than the 1st support price of $12.45 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $11.97.

MACD oscillator is showing a reading of -0.29 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.

CLSA started covering the QFIN stock on July 16, recommending Buy rating for it while assigning the price target of $20. The stock gets a Overweight recommendation from analysts at Morgan Stanley who started covering the stock in their April 24 note to investors.Citigroup analysts started covering the stock with recommendation of Buy rating on January 18.

The average rating of 1.75 for QFIN is placing the stock in bullish category at the moment. In a poll by Reuters including 6 analysts in it who kept tracking the 360 Finance, Inc., 0 rated the stock as hold. Others were in different opinions for the QFIN. Out of remaining 6 analysts, 6 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.

A quick look at other side of the picture shows that QFIN stock is ahead of earnings per share estimates with a forward price-to-earnings ratio of 3.5. Stock’s current price-to-sales (P/S) ratio of 6.1 is in front of industry’s average P/S ratio of 34.6. A comparison of 360 Finance, Inc.’s trailing 12-months P/E ratio of 1.9 implies that it is trading above the industry’s average P/E ratio, which currently is 5.3.


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