Lufax Holding Ltd. Sponsored ADR (NYSE:LU) Sees Significant Drop in Short Interest

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 3,666,645 shares, a drop of 17.5% from the December 15th total of 4,444,911 shares. Based on an average daily trading volume, of 879,816 shares, the days-to-cover ratio is presently 4.2 days. Approximately 0.4% of the shares of the company are sold short. Approximately 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 879,816 shares, the days-to-cover ratio is presently 4.2 days.

Lufax Stock Up 1.0%

NYSE:LU opened at $2.63 on Monday. The firm has a market capitalization of $2.28 billion, a PE ratio of -3.41 and a beta of 0.60. Lufax has a 12-month low of $2.25 and a 12-month high of $4.57. The firm has a 50-day moving average price of $2.62 and a 200 day moving average price of $2.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LU. Amundi raised its position in Lufax by 76.8% in the 1st quarter. Amundi now owns 97,223 shares of the company’s stock valued at $282,000 after purchasing an additional 42,236 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Lufax by 32.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 604,823 shares of the company’s stock valued at $1,796,000 after buying an additional 148,724 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Lufax by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,343,505 shares of the company’s stock valued at $3,990,000 after buying an additional 8,236 shares during the last quarter. Aberdeen Group plc lifted its position in Lufax by 54.4% during the 2nd quarter. Aberdeen Group plc now owns 79,947 shares of the company’s stock worth $223,000 after buying an additional 28,166 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Lufax during the 2nd quarter worth about $28,000. 69.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, Lufax has an average rating of “Sell”.

Lufax Company Profile

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.