Shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU – Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $1.19 and last traded at $1.1950, with a volume of 54408 shares. The stock had previously closed at $1.21.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on LU shares. JPMorgan Chase & Co. raised shares of Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price for the company in a research report on Tuesday, July 28th. Wall Street Zen lowered Lufax from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Zacks Research cut Lufax from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft set a $1.40 target price on Lufax and gave the stock a “hold” rating in a report on Thursday, August 27th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $1.70.
Lufax Stock Up 1.2%
Lufax (NYSE:LU – Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $1.08 by ($1.12). The firm had revenue of $916.61 million for the quarter, compared to analyst estimates of $2.22 billion. On average, sell-side analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.29 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Lufax
Several institutional investors have recently made changes to their positions in the stock. Fulton Bank N.A. acquired a new stake in shares of Lufax during the 1st quarter worth approximately $27,000. Scientech Research LLC acquired a new position in Lufax during the 3rd quarter valued at approximately $46,000. Hudson Bay Capital Management LP bought a new position in Lufax during the 2nd quarter worth $58,000. Engineers Gate Manager LP bought a new position in Lufax during the 2nd quarter worth $60,000. Finally, Headlands Technologies LLC increased its position in Lufax by 245.1% in 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 period. 69.14% of the stock is owned by institutional investors.
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.
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