LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) Short Interest Down 34.5% in June

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 3,443,617 shares, a decline of 34.5% from the June 15th total of 5,256,817 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average trading volume of 1,607,645 shares, the short-interest ratio is presently 2.1 days.

LexinFintech Stock Performance

Shares of LX opened at $1.54 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. LexinFintech has a 52-week low of $1.41 and a 52-week high of $7.99. The company has a 50-day simple moving average of $1.97 and a 200-day simple moving average of $2.42. The company has a market capitalization of $257.95 million, a PE ratio of 1.34 and a beta of 0.82.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LX. Caitong International Asset Management Co. Ltd lifted its position in shares of LexinFintech by 150.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,601 shares of the company’s stock valued at $31,000 after acquiring an additional 5,773 shares during the period. Tower Research Capital LLC TRC increased its stake in LexinFintech by 350.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock valued at $72,000 after purchasing an additional 7,756 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in LexinFintech in the 3rd quarter valued at approximately $60,000. Quantbot Technologies LP acquired a new position in LexinFintech during the second quarter worth $107,000. Finally, Prelude Capital Management LLC acquired a new position in LexinFintech during the third quarter worth $80,000.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings cut shares of LexinFintech from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Wall Street Zen raised LexinFintech from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.50.

About LexinFintech

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.