LexinFintech (NASDAQ:LX) Sets New 52-Week Low – Here’s What Happened

Shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.98 and last traded at $3.17, with a volume of 3197769 shares trading hands. The stock had previously closed at $3.14.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LX shares. UBS Group cut LexinFintech from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.60 to $3.50 in a report on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of LexinFintech in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.50.

LexinFintech Stock Performance

The stock has a 50-day moving average price of $3.46 and a 200 day moving average price of $5.12. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $533.38 million, a price-to-earnings ratio of 2.23 and a beta of 0.71.

Institutional Investors Weigh In On LexinFintech

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in LexinFintech by 38.6% in the second quarter. JPMorgan Chase & Co. now owns 2,105,130 shares of the company’s stock valued at $15,178,000 after buying an additional 585,739 shares during the last quarter. Nomura Holdings Inc. boosted its position in shares of LexinFintech by 107.6% during the 2nd quarter. Nomura Holdings Inc. now owns 1,057,883 shares of the company’s stock worth $7,627,000 after acquiring an additional 548,371 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of LexinFintech by 4.6% during the 2nd quarter. Acadian Asset Management LLC now owns 4,884,131 shares of the company’s stock worth $35,192,000 after acquiring an additional 214,800 shares in the last quarter. Brilliance Asset Management Ltd. purchased a new position in shares of LexinFintech in the 2nd quarter valued at about $4,709,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of LexinFintech during the 2nd quarter worth about $2,490,000.

LexinFintech Company Profile

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.