Lufax Holding Ltd. Sponsored ADR (NYSE:LU – Get Free Report)’s share price dropped 4.7% during trading on Tuesday. The company traded as low as $8.15 and last traded at $8.08. 39,429 shares changed hands during trading, a decline of 71% from the average session volume of 136,593 shares. The stock had previously closed at $8.48.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Tuesday, July 28th. Zacks Research upgraded Lufax from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Wall Street Zen lowered Lufax from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Deutsche Bank Aktiengesellschaft set a $14.00 price target on Lufax and gave the company a “hold” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.00.
View Our Latest Stock Analysis on Lufax
Lufax Trading Down 2.6%
The company’s fifty day simple moving average is $11.52 and its two-hundred day simple moving average is $17.58. The company has a market capitalization of $715.63 million, a price-to-earnings ratio of -13.55 and a beta of 0.69. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08.
Lufax (NYSE:LU – Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $10.80 by ($11.20). The firm had revenue of $916.61 million for the quarter, compared to the consensus estimate of $2.22 billion. Research analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -2.90 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its stake in Lufax by 2.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock worth $461,000 after purchasing an additional 6,600 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Lufax by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock worth $615,000 after acquiring an additional 7,608 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Lufax by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock worth $595,000 after purchasing an additional 14,224 shares in the last quarter. Fulton Bank N.A. bought a new position in Lufax during the first quarter valued at approximately $27,000. Finally, Engineers Gate Manager LP purchased a new position in Lufax in the 2nd quarter worth $60,000. 69.14% of the stock is currently owned by institutional investors.
About Lufax
Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates digital platforms for retail and small-business finance. The company connects consumers and small-business owners with financial products and services through online channels and technology-enabled processes.
Lufax’s business has historically included retail lending, wealth management and related financial services. Its platforms have provided access to consumer and small-business loans, investment products and other services offered in cooperation with financial institutions.
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