The stock of 360 Finance, Inc. (NASDAQ:QFIN) is now priced at $12.5 and the shares are 0.22 points up or 1.79% higher compared to its previous closing price of $12.28. The stock had 1.24 million contracts set over the past session. QFIN shares’ daily volume is compared to its average trading volume at 1.645 million shares. However, it has a float of 104 million and although its performance was -11.28% over the week, it’s one to watch. Analysts have given the QFIN stock a yearly average price target of $20.1 per share. It means the stock’s upside potential is 60.8% with the QFIN share price recently placing at $12 to $12.68. However, some brokerage firms have priced the stock below the average, including one that has called $¥110.60.
The shorts are climbing into the 360 Finance, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the QFIN shares have risen. Short interest in the stock represents just 1.09% of its float, but the volume has raised by 359386. The volume of shorted shares rised to 1.139 million from 779242 shares over the last two weeks. The average intraday trading volume has been 1.939 million shares, which means that days to cover moved to roughly 1.
In the last trading session, 360 Finance, Inc. (NASDAQ:QFIN) dropped by -$1.59 over the week and gained $1.3 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $18.06. The stock recorded its established 52-week high on 07/20/20.
Since 03/18/20, the stock has traded to a low of $6.37 at 96.23%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, 360 Finance, Inc.’s two-week RSI is 47.85. This suggests that the stock is neutral at the moment and that QFIN shares’ price movement remains stable. The stochastic readings are equally revealing at 27.63% meaning the QFIN share price is currently in overbought territory.
The technical chart shows that the QFIN stock will likely settle at between $12.79 and $13.07 per share. However, if the stock dips below $12.11, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $11.71.
Currently, the stock is trading in the red of MACD, with a reading of -0.53. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned QFIN a rating of Buy in their intiating review released on July 16. Morgan Stanley analysts see the stock as a Overweight in a flash note released to investors on April 24 initiating covering the stock. Citigroup analysts see the stock as Buy when the analysts initiated the share price coverage on January 18.
The average rating for the QFIN equity is 1.75 and is currently gathering a bullish momentum. Of 5 analysts tracking 360 Finance, Inc. polled by Reuters, 0 rated QFIN as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the QFIN stock price is 3.42X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 5.8 below the group’s average of 35.1. 360 Finance, Inc. has its P/E ratio at 1.8, which means that the stock is currently trading at a discount relative to the 5.4 industry average.