Shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU – Get Free Report) fell 6.3% during mid-day trading on Monday . The stock traded as low as $1.26 and last traded at $1.2550. Approximately 236,433 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,401,605 shares. The stock had previously closed at $1.34.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. initiated coverage on Lufax in a report on Friday, April 17th. They set a “neutral” rating and a $2.00 target price on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a research note on Monday, May 18th. Finally, Zacks Research raised Lufax to a “hold” rating in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $2.00.
Read Our Latest Analysis on Lufax
Lufax Stock Down 7.1%
Institutional Investors Weigh In On Lufax
Several hedge funds have recently bought and sold shares of the company. Fulton Bank N.A. bought a new position in Lufax during the first quarter worth about $27,000. Scientech Research LLC acquired a new stake in shares of Lufax in the third quarter valued at approximately $46,000. Hudson Bay Capital Management LP acquired a new stake in shares of Lufax in the second quarter valued at approximately $58,000. Headlands Technologies LLC boosted its stake in shares of Lufax by 245.1% during the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after acquiring an additional 19,126 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Lufax during the 4th quarter worth approximately $96,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.
About Lufax
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.
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