Lufax Sees Unusually High Options Volume (NYSE:LU)

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) saw some unusual options trading activity on Friday. Investors purchased 3,306 call options on the company. This represents an increase of 491% compared to the typical daily volume of 559 call options.

Lufax Price Performance

Shares of LU opened at $2.25 on Friday. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -2.88 and a beta of 0.64. Lufax has a 1 year low of $2.22 and a 1 year high of $4.57. The business’s 50 day simple moving average is $2.66 and its 200-day simple moving average is $2.89.

Lufax (NYSE:LU) last posted its earnings results on Tuesday, February 17th. The company reported ($1.19) earnings per share for the quarter. The company had revenue of $724.89 million for the quarter. On average, sell-side analysts expect that Lufax will post -0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Lufax from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Lufax currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Lufax

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Lufax in the 4th quarter worth about $96,000. XTX Topco Ltd purchased a new stake in shares of Lufax during the 4th quarter valued at about $246,000. Millennium Management LLC lifted its holdings in shares of Lufax by 529.8% in the 4th quarter. Millennium Management LLC now owns 259,472 shares of the company’s stock valued at $664,000 after acquiring an additional 218,275 shares during the last quarter. Amundi lifted its holdings in shares of Lufax by 44.4% in the 4th quarter. Amundi now owns 93,820 shares of the company’s stock valued at $240,000 after acquiring an additional 28,842 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Lufax by 4.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 239,900 shares of the company’s stock worth $614,000 after acquiring an additional 9,188 shares in the last quarter. 69.14% of the stock is owned by hedge funds and other 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.