Lufax (NYSE:LU) Reaches New 52-Week Low After Earnings Miss

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s share price hit a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $2.17 and last traded at $2.1950, with a volume of 258061 shares. The stock had previously closed at $2.26.

The company reported ($1.19) earnings per share for the quarter. The firm had revenue of $724.89 million for the quarter.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Scientech Research LLC acquired a new stake in Lufax during the third quarter worth approximately $46,000. Hudson Bay Capital Management LP bought a new position in shares of Lufax during the second quarter worth approximately $58,000. Headlands Technologies LLC lifted its holdings in Lufax by 245.1% during the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after purchasing an additional 19,126 shares during the last quarter. Virtu Financial LLC bought a new stake in Lufax in the 4th quarter valued at $96,000. Finally, Profund Advisors LLC grew its holdings in Lufax by 26.1% in the 3rd quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock valued at $129,000 after buying an additional 6,565 shares in the last quarter. 69.14% of the stock is owned by institutional investors.

Lufax Stock Performance

The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -2.81 and a beta of 0.64. The business has a fifty day simple moving average of $2.63 and a 200 day simple moving average of $2.87.

Lufax Company Profile

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.