Lufax (NYSE:LU) Stock Price Up 7.9% – Should You Buy?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) was up 7.9% during trading on Tuesday . The stock traded as high as $1.5550 and last traded at $1.5650. 589,371 shares changed hands during trading, a decline of 55% from the average daily volume of 1,306,959 shares. The stock had previously closed at $1.45.

Wall Street Analyst Weigh In

LU has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research note on Thursday. Zacks Research cut shares of Lufax from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. 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 research report on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of Lufax from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $2.00.

Lufax Stock Up 7.9%

The stock’s 50 day moving average price is $1.40 and its two-hundred day moving average price is $1.88. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -2.01 and a beta of 0.80.

Institutional Trading of Lufax

Large investors have recently added to or reduced their stakes in the business. Alpine Investment Management Ltd increased its position in Lufax by 91.9% during the fourth quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company’s stock worth $20,753,000 after buying an additional 3,881,500 shares during the last quarter. Norges Bank acquired a new stake in shares of Lufax in the fourth quarter worth $8,067,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Lufax by 2,378.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,168,162 shares of the company’s stock worth $6,049,000 after buying an additional 2,080,678 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Lufax during the 2nd quarter worth $2,276,000. Finally, Legal & General Group Plc grew its stake in Lufax by 106.5% in the 4th quarter. Legal & General Group Plc now owns 1,560,906 shares of the company’s stock valued at $3,996,000 after buying an additional 804,923 shares during the last quarter. 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.