Lufax (NYSE:LU) Reaches New 12-Month Low – Here’s What Happened

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) hit a new 52-week low on Thursday. The stock traded as low as $0.9560 and last traded at $0.9770, with a volume of 4,758,580 shares changing hands. The stock had previously closed at $1.01.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LU shares. Deutsche Bank Aktiengesellschaft set a $1.40 price objective on Lufax and gave the company a “hold” rating in a research report on Thursday, August 27th. Wall Street Zen cut shares of Lufax from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a report on Thursday, August 13th. JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 price target for the company in a research note on Tuesday, July 28th. Finally, Zacks Research raised shares of Lufax from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1.70.

Lufax Trading Up 3.9%

The company’s 50-day moving average is $1.29 and its 200 day moving average is $1.51. 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 market cap of $852.82 million, a price-to-earnings ratio of -1.61 and a beta of 0.69.

Lufax’s stock is going to reverse split on the morning of Friday, October 23rd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, October 22nd.

Lufax (NYSE:LU) last posted its earnings results on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $1.08 by ($1.12). The business had revenue of $916.61 million for the quarter, compared to the consensus estimate of $2.22 billion. Research analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current year.

Institutional Investors Weigh In On Lufax

A number of large investors have recently bought and sold shares of the stock. Fulton Bank N.A. purchased a new position in Lufax in the 1st quarter worth approximately $27,000. Engineers Gate Manager LP purchased a new stake in shares of Lufax during the second quarter valued at approximately $60,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Lufax during the second quarter valued at approximately $157,000. Ramsey Quantitative Systems acquired a new position in shares of Lufax during the second quarter worth $199,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Lufax by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock worth $595,000 after purchasing an additional 14,224 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

Lufax Company Profile

Lufax Holding Ltd. (NYSE: LU) is a China-based financial technology company that provides technology-enabled retail and small-business financial services. Its platform has connected borrowers, financial institutions and investors, with services focused primarily on consumer and small-business lending, wealth management and related financial products.

The company uses data analytics, digital platforms and risk-management technologies to support customer acquisition, credit assessment, loan servicing and financial-product distribution.