Lufax Shares to Reverse Split on Friday, October 23rd (NYSE:LU)

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) shares are set to reverse split on Friday, October 23rd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, October 22nd.

Lufax Stock Performance

NYSE LU opened at $0.86 on Monday. Lufax has a 1 year low of $0.85 and a 1 year high of $3.44. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $744.49 million, a P/E ratio of -1.41 and a beta of 0.69. The firm’s fifty day moving average price is $1.23 and its two-hundred day moving average price is $1.48.

Lufax (NYSE:LU) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($1.12). The business had revenue of $916.61 million during the quarter, compared to analyst estimates of $2.22 billion. As a group, research analysts anticipate that Lufax will post -0.29 EPS for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Barometer Capital Management Inc. grew its position in shares of Lufax by 7,538.6% during the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock valued at $1,000,000 after purchasing an additional 527,700 shares in the last quarter. California Public Employees Retirement System increased its stake in Lufax by 2.4% in the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock worth $615,000 after purchasing an additional 7,608 shares during the period. Bank of New York Mellon Corp raised its holdings in Lufax by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock valued at $595,000 after buying an additional 14,224 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Lufax by 2.8% during the first quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after acquiring an additional 6,600 shares during the last quarter. Finally, Ramsey Quantitative Systems bought a new position in Lufax during the 2nd quarter valued at approximately $199,000. Institutional investors own 69.14% of the company’s stock.

About Lufax

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.