Lufax (NYSE:LU) Hits New 1-Year Low – Should You Sell?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s stock price hit a new 52-week low on Thursday . The company traded as low as $1.71 and last traded at $1.7050, with a volume of 456279 shares. The stock had previously closed at $1.79.

Analyst Upgrades and Downgrades

LU has been the subject of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a report on Monday. JPMorgan Chase & Co. initiated coverage on shares of Lufax in a report on Friday, April 17th. They set a “neutral” rating and a $2.00 target price for the company. Wall Street Zen upgraded shares of Lufax from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research raised shares of Lufax to a “hold” rating in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $2.00.

Lufax Trading Down 5.3%

The stock has a market capitalization of $1.47 billion, a PE ratio of -2.17 and a beta of 0.81. The firm’s 50-day simple moving average is $1.96 and its two-hundred day simple moving average is $2.42.

Lufax (NYSE:LU) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($1.19) earnings per share for the quarter. The business had revenue of $724.89 million for the quarter. As a group, research analysts expect that Lufax Holding Ltd. Sponsored ADR will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Lufax

Several institutional investors and hedge funds have recently added to or reduced their stakes in LU. Public Employees Retirement System of Ohio grew its holdings in shares of Lufax by 2.8% during the 1st 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 in the last quarter. Barometer Capital Management Inc. increased its stake in shares of Lufax by 7,538.6% in the first quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock worth $1,000,000 after acquiring an additional 527,700 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Lufax by 2.4% in the first quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock worth $615,000 after acquiring an additional 7,608 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Lufax by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock worth $595,000 after acquiring an additional 14,224 shares during the last quarter. Finally, Fulton Bank N.A. acquired a new position in shares of Lufax in the first quarter worth $27,000. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

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.