Lufax (NYSE:LU) Stock Price Down 6.3% – Here’s What Happened

by · The Markets Daily

Shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU – Get Free Report) fell 6.3% during mid-day trading on Friday. The company traded as low as $1.29 and last traded at $1.2650. Approximately 200,757 shares traded hands during 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

LU has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised shares of Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price on the stock in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft set a $1.40 target price on Lufax and gave the company a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. Zacks Research lowered Lufax from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen cut Lufax from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $1.70.

View Our Latest Stock Analysis on LU

Lufax Trading Down 6.3%

The stock has a market capitalization of $1.10 billion, a P/E ratio of -2.07 and a beta of 0.76. The stock’s fifty day moving average price is $1.37 and its two-hundred day moving average price is $1.60. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08.

Lufax (NYSE:LU – Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $2.22 billion. Equities research analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current year.

Institutional Investors Weigh In On Lufax

Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its holdings in Lufax by 2.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after buying an additional 6,600 shares during the last quarter. California Public Employees Retirement System increased its position 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 valued at $615,000 after acquiring an additional 7,608 shares during the period. Bank of New York Mellon Corp increased its position in shares of Lufax by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock valued at $595,000 after acquiring an additional 14,224 shares during the period. Fulton Bank N.A. bought a new position in shares of Lufax during the first quarter valued at about $27,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Lufax in the second quarter worth about $60,000. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

About Lufax

(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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