Lufax Holding Ltd. Sponsored ADR (NYSE:LU) Sees Large Decline in Short Interest

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) was the target of a large drop in short interest in December. As of December 31st, there was short interest totaling 3,666,645 shares, a drop of 17.5% from the December 15th total of 4,444,911 shares. Based on an average trading volume of 879,816 shares, the short-interest ratio is presently 4.2 days. Approximately 0.4% of the shares of the company are short sold. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 879,816 shares, the short-interest ratio is presently 4.2 days.

Institutional Investors Weigh In On Lufax

A number of institutional investors and hedge funds have recently made changes to their positions in LU. Vanguard Personalized Indexing Management LLC acquired a new stake in Lufax during the 2nd quarter worth $28,000. May Hill Capital LLC acquired a new stake in shares of Lufax during the second quarter worth $34,000. Scientech Research LLC acquired a new position in Lufax in the third quarter valued at about $46,000. Hudson Bay Capital Management LP acquired a new position in Lufax in the second quarter valued at about $58,000. Finally, Headlands Technologies LLC boosted its holdings in Lufax by 245.1% during the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after buying an additional 19,126 shares during the last quarter. Institutional investors own 69.14% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, Lufax has an average rating of “Sell”.

Lufax Stock Performance

Shares of NYSE:LU traded down $0.05 on Tuesday, hitting $2.58. The stock had a trading volume of 1,165,652 shares, compared to its average volume of 1,133,886. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -3.33 and a beta of 0.60. The firm’s 50 day moving average price is $2.62 and its 200-day moving average price is $2.94. Lufax has a twelve month low of $2.25 and a twelve month high of $4.57.

Lufax Company Profile

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.