Lufax (NYSE:LU) Shares Gap Up – Here’s Why

Shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) gapped up before the market opened on Tuesday . The stock had previously closed at $2.69, but opened at $2.99. Lufax shares last traded at $3.1250, with a volume of 1,902,398 shares changing hands.

Lufax Stock Up 16.2%

The company has a market capitalization of $2.71 billion, a PE ratio of -4.06 and a beta of 0.63. The company has a 50-day moving average price of $2.67 and a two-hundred day moving average price of $2.92.

Lufax (NYSE:LU) last issued its earnings results on Tuesday, February 17th. The company reported ($1.19) EPS for the quarter. The business had revenue of $724.89 million during the quarter. As a group, equities analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC bought a new position in Lufax during the second quarter valued at approximately $28,000. May Hill Capital LLC purchased a new position in shares of Lufax in the 2nd quarter valued at approximately $34,000. Scientech Research LLC purchased a new stake in Lufax in the third quarter worth about $46,000. Hudson Bay Capital Management LP bought a new stake in shares of Lufax during the second quarter valued at approximately $58,000. Finally, Headlands Technologies LLC raised its position in Lufax by 245.1% in the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after buying an additional 19,126 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

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.