Lufax (NYSE:LU) Stock Price Up 7.9% – What’s Next?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s share price was up 7.9% during trading on Monday . The company traded as high as $1.31 and last traded at $1.3050. Approximately 395,040 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,249,623 shares. The stock had previously closed at $1.21.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft set a $1.40 price target on shares of Lufax and gave the company a “hold” rating in a report on Thursday, August 27th. Zacks Research downgraded Lufax from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 price objective on the stock in a research note on Tuesday, July 28th. Finally, Wall Street Zen downgraded Lufax from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $1.70.

Lufax Stock Performance

The company has a market cap of $1.13 billion, a P/E ratio of -2.16 and a beta of 0.76. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $1.39 and a 200-day moving average price of $1.68.

Lufax (NYSE:LU) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share 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 analyst estimates of $2.22 billion. Equities analysts expect that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Lufax

A number of hedge funds have recently modified their holdings of LU. Amundi boosted its position in shares of Lufax by 76.8% in the first quarter. Amundi now owns 97,223 shares of the company’s stock worth $282,000 after buying an additional 42,236 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Lufax by 32.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 604,823 shares of the company’s stock worth $1,796,000 after acquiring an additional 148,724 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Lufax by 0.6% in the 1st 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. Geode Capital Management LLC increased its position in Lufax by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 143,238 shares of the company’s stock worth $400,000 after buying an additional 5,417 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Lufax by 74.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 110,024 shares of the company’s stock worth $307,000 after buying an additional 47,001 shares during the period. 69.14% of the stock is currently owned by institutional investors and hedge funds.

About Lufax

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.