Lufax (NYSE:LU – Get Free Report) will likely be releasing its results before the market opens on Thursday, July 30th. Analysts expect the company to post earnings of $1.08 per share and revenue of $2.2232 billion for the quarter.
Lufax Price Performance
Shares of NYSE LU opened at $1.36 on Thursday. The stock has a market capitalization of $1.18 billion, a P/E ratio of -1.75 and a beta of 0.79. The company has a 50-day moving average price of $1.45 and a 200-day moving average price of $2.03. Lufax has a 1 year low of $1.20 and a 1 year high of $4.57.
Analyst Ratings Changes
Several brokerages recently weighed in on LU. Wall Street Zen raised shares of Lufax from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research raised Lufax to a “hold” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. initiated coverage on Lufax in a research note on Friday, April 17th. They issued a “neutral” rating and a $2.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a report on Monday, May 18th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $2.00.
Institutional Investors Weigh In On Lufax
A number of institutional investors have recently added to or reduced their stakes in LU. Scientech Research LLC purchased a new stake in Lufax in the 3rd quarter valued at about $46,000. Hudson Bay Capital Management LP purchased a new position in shares of Lufax in the 2nd quarter worth approximately $58,000. Headlands Technologies LLC grew its holdings in shares of Lufax by 245.1% in the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock valued at $75,000 after acquiring an additional 19,126 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Lufax in the fourth quarter valued at approximately $96,000. Finally, Marshall Wace LLP purchased a new stake in shares of Lufax during the second quarter valued at approximately $160,000. 69.14% of the stock is owned by institutional investors.
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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