Lufax (NYSE:LU) Stock Price Down 6.3% – What’s Next?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU – Get Free Report)’s share price was down 6.3% during trading on Friday. The stock traded as low as $1.29 and last traded at $1.2650. 200,757 shares were traded during mid-day trading, a decline of 84% from the average session volume of 1,291,790 shares. The stock had previously closed at $1.35.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LU shares. JPMorgan Chase & Co. raised Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 price target for the company in a report on Tuesday, July 28th. Zacks Research cut Lufax from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Wall Street Zen cut shares of Lufax from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft set a $1.40 target price on shares of Lufax and gave the stock a “hold” rating in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $1.70.

Read Our Latest Analysis on LU

Lufax Trading Down 6.3%

The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -2.07 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.72 and a current ratio of 1.72. The firm has a fifty day moving average price of $1.37 and a 200-day moving average price of $1.60.

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 analysts’ consensus estimates of $1.08 by ($1.12). The company had revenue of $916.61 million during the quarter, compared to analyst estimates of $2.22 billion. As a group, equities analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Lufax

A number of institutional investors have recently modified their holdings of LU. Engineers Gate Manager LP bought a new position in shares of Lufax during the 2nd quarter worth $60,000. Public Employees Retirement System of Ohio purchased a new stake in Lufax during the second quarter valued at about $157,000. Ramsey Quantitative Systems bought a new position in Lufax during the second quarter worth about $199,000. Barometer Capital Management Inc. boosted its position in Lufax by 7,538.6% during the first quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock worth $1,000,000 after purchasing an additional 527,700 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Lufax by 2.4% in the first quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock worth $615,000 after purchasing an additional 7,608 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

Lufax Company Profile

(Get Free Report)

Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates an online platform connecting borrowers, lenders and wealth-management customers. The company primarily serves small business owners, self-employed individuals and retail investors through digital financial products and services.

Lufax’s business includes consumer and small-business lending, wealth-management services and related technology solutions. Its platform uses data analytics, risk-management tools and digital processes to support loan origination, servicing and investment transactions.

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