Lufax (NYSE:LU) Reaches New 1-Year Low – Here’s What Happened

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s stock price reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $1.13 and last traded at $1.1350, with a volume of 1047071 shares traded. The stock had previously closed at $1.19.

Analysts Set New Price Targets

LU has been the subject of several research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. Zacks Research raised Lufax from a “strong sell” rating to a “hold” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft set a $1.40 price target on Lufax and gave the company a “hold” rating in a report on Thursday, August 27th. JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 price objective for the company in a research report on Tuesday, July 28th. Finally, Wall Street Zen cut Lufax from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lufax has an average rating of “Hold” and an average price target of $1.70.

Lufax Stock Performance

The stock has a 50 day moving average price of $1.36 and a two-hundred day moving average price of $1.56. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08. The company has a market cap of $914.36 million, a price-to-earnings ratio of -1.73 and a beta of 0.69.

Lufax shares are set to reverse split on Friday, October 23rd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, October 22nd.

Lufax (NYSE:LU) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($1.12). The company had revenue of $916.61 million during the quarter, compared to analyst estimates of $2.22 billion. Analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Lufax

Several institutional investors have recently modified their holdings of the stock. Fulton Bank N.A. bought a new stake in shares of Lufax in the 1st quarter valued at about $27,000. Engineers Gate Manager LP bought a new position in Lufax during the 2nd quarter worth approximately $60,000. Public Employees Retirement System of Ohio bought a new position in Lufax during the 2nd quarter worth approximately $157,000. Ramsey Quantitative Systems acquired a new position in Lufax during the second quarter valued at approximately $199,000. Finally, Bank of New York Mellon Corp grew its holdings in Lufax by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock valued at $595,000 after purchasing an additional 14,224 shares during the period. 69.14% of the stock is currently owned by institutional investors and hedge funds.

Lufax Company Profile

Lufax Holding Ltd. (NYSE: LU) is a China-based financial technology company that provides technology-enabled retail and small-business financial services. Its platform has connected borrowers, financial institutions and investors, with services focused primarily on consumer and small-business lending, wealth management and related financial products.

The company uses data analytics, digital platforms and risk-management technologies to support customer acquisition, credit assessment, loan servicing and financial-product distribution.