Lufax (NYSE:LU) Trading Down 4.5% – Time to Sell?

Lufax Holding Ltd (NYSE:LU) shares traded down 4.5% during mid-day trading on Monday . The stock traded as low as $2.32 and last traded at $2.34. 1,723,125 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 3,962,480 shares. The stock had previously closed at $2.45.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LU shares. Bank of America reduced their price target on Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.20 price target on shares of Lufax in a research note on Thursday, October 24th.

Lufax Trading Down 3.7 %

The stock has a market cap of $2.05 billion, a P/E ratio of -3.18 and a beta of 0.90. The business has a 50-day simple moving average of $2.87 and a 200 day simple moving average of $2.81.

Lufax (NYSE:LU) last released its earnings results on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.15). Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. The firm had revenue of $789.93 million during the quarter. During the same quarter last year, the firm posted $0.04 EPS. As a group, equities analysts expect that Lufax Holding Ltd will post -0.48 earnings per share for the current year.

Institutional Trading of Lufax

A number of hedge funds and other institutional investors have recently bought and sold shares of LU. Caxton Associates LP bought a new stake in Lufax during the second quarter worth $2,152,000. Maven Securities LTD grew its position in Lufax by 350.0% during the second quarter. Maven Securities LTD now owns 180,000 shares of the company’s stock valued at $427,000 after buying an additional 140,000 shares during the period. Baillie Gifford & Co. increased its holdings in Lufax by 15.9% during the second quarter. Baillie Gifford & Co. now owns 14,011,971 shares of the company’s stock worth $33,208,000 after buying an additional 1,922,185 shares during the last quarter. AQR Capital Management LLC bought a new stake in Lufax in the second quarter worth about $1,114,000. Finally, Simplicity Wealth LLC purchased a new position in Lufax in the second quarter valued at about $79,000. Institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.