Lufax (NYSE:LU) Shares Gap Up – Here’s What Happened

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) gapped up prior to trading on Monday. The stock had previously closed at $8.06, but opened at $9.01. Lufax shares last traded at $8.59, with a volume of 69,106 shares traded.

Analyst Ratings Changes

LU has been the subject of several recent analyst reports. Zacks Research upgraded shares of Lufax from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. JPMorgan Chase & Co. raised shares of Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft set a $14.00 price objective on Lufax and gave the stock a “hold” rating in a research report on Thursday, August 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. Finally, Wall Street Zen downgraded Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.00.

Lufax Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a market capitalization of $755.85 million, a price-to-earnings ratio of -14.35 and a beta of 0.69. The business’s fifty day simple moving average is $11.60 and its 200 day simple moving average is $14.40.

Lufax (NYSE:LU) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.80 by ($11.20). The firm had revenue of $916.61 million for the quarter, compared to the consensus estimate of $2.22 billion. On average, research analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -2.90 EPS for the current year.

Institutional Inflows and Outflows

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

About Lufax

Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates digital platforms for retail and small-business finance. The company connects consumers and small-business owners with financial products and services through online channels and technology-enabled processes.

Lufax’s business has historically included retail lending, wealth management and related financial services. Its platforms have provided access to consumer and small-business loans, investment products and other services offered in cooperation with financial institutions.