Watch List Stock: 360 Finance (NASDAQ:QFIN)

On Friday, 360 Finance Inc (NASDAQ:QFIN) stock dropped -2.89% and closed at 13.79. The stock opened the session at $14.08 and touched its highest price point at $14.1. Its recent trading capacity is 81155 shares versus to its average trading volume of 130428 shares. The company’s stock’s lowest price point for the session stood at $13.56. QFIN traded as low as $ 9.9 in the past 52 weeks, and shares hit its peak level to $24.45.

360 Finance (NASDAQ:QFIN), a leading digital consumer finance platform, reported that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to a follow-on public offering (the “Offering”) of 7,500,000 American depositary shares (“ADSs”), each representing two class A ordinary shares of the Company. The Company intends to offer 375,000 ADSs and certain selling shareholders intend to offer 7,125,000 ADSs in aggregate in the Offering. The underwriters will have a 30-day option to purchase up to 56,250 additional ADSs from the Company and 1,068,750 additional ADSs from the selling shareholder.

The Company intends to use the net proceeds from the offering primarily for general corporate purpose. The Company will not receive any proceeds from the sale of the ADSs by the selling shareholder.

Citigroup and Morgan Stanley will act as the joint book runners for the proposed offering. Haitong International and China Renaissance will act as the joint lead managers for the proposed offering.

A preliminary prospectus related to the proposed ADS offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov.

Note: This announcement shall not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

QFIN has a gross margin of 83.60% and an operating margin of 37.00% while its profit margin remained -42.80% for the last 12 months. 

 According to the most recent quarter its current ratio was 2.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of -7.29% from the mean of 20 days, -22.77% from mean of 50 days SMA and performed -13.10% from mean of 200 days price. Company’s performance for the week was -3.90%, -21.91% for month and YTD performance remained -11.07%.

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