LexinFintech (NASDAQ:LX) Shares Down 5.4% – Here’s Why

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LXGet Free Report) was down 5.4% during mid-day trading on Thursday . The company traded as low as $1.7150 and last traded at $1.75. Approximately 3,251,882 shares changed hands during trading, an increase of 115% from the average session volume of 1,512,040 shares. The stock had previously closed at $1.85.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of LexinFintech from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, LexinFintech presently has a consensus rating of “Hold” and a consensus price target of $3.50.

Read Our Latest Analysis on LX

LexinFintech Stock Down 8.9%

The company has a quick ratio of 2.02, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The company has a market cap of $267.16 million, a P/E ratio of 1.39 and a beta of 0.82. The company has a fifty day moving average of $2.03 and a 200 day moving average of $2.49.

Institutional Investors Weigh In On LexinFintech

A number of large investors have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of LexinFintech by 0.3% in the 4th quarter. State Street Corp now owns 1,126,561 shares of the company’s stock worth $3,684,000 after purchasing an additional 3,666 shares during the period. Caitong International Asset Management Co. Ltd grew its position in LexinFintech by 150.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,601 shares of the company’s stock valued at $31,000 after buying an additional 5,773 shares during the period. Tower Research Capital LLC TRC grew its position in LexinFintech by 350.5% during the second quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock valued at $72,000 after buying an additional 7,756 shares during the period. Ariadne Wealth Management LP increased its holdings in LexinFintech by 50.4% during the first quarter. Ariadne Wealth Management LP now owns 24,107 shares of the company’s stock valued at $53,000 after buying an additional 8,080 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in LexinFintech by 9.0% during the first quarter. California Public Employees Retirement System now owns 131,329 shares of the company’s stock valued at $286,000 after buying an additional 10,843 shares during the last quarter.

LexinFintech Company Profile

(Get Free Report)

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.

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