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%
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
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.
See Also
- Five stocks we like better than Lufax
- Cracker Barrel Stock Is Rallying Again, But the Turnaround Still Has a Traffic Problem
- Oracle’s Force Majeure Notice Exposes a Bigger Problem for the AI Build-Out
- Oil May Be Stronger Than It Looks—And Diamondback Is on Sale
- BlackBerry Shifts Gears With Coretura Deal
Receive News & Ratings for Lufax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lufax and related companies with MarketBeat.com's FREE daily email newsletter.
