LexinFintech (NASDAQ:LX) Reaches New 12-Month Low – Time to Sell?

Shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) hit a new 52-week low on Wednesday . The stock traded as low as $3.19 and last traded at $3.2450, with a volume of 914364 shares trading hands. The stock had previously closed at $3.28.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LX. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LexinFintech in a report on Wednesday, October 8th. UBS Group cut shares of LexinFintech from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $13.60 to $3.50 in a research report on Thursday. Finally, Wall Street Zen lowered shares of LexinFintech from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.50.

LexinFintech Stock Performance

The firm has a market capitalization of $546.85 million, a price-to-earnings ratio of 2.29 and a beta of 0.68. The firm’s 50-day moving average price is $4.47 and its two-hundred day moving average price is $5.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.80 and a current ratio of 1.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in LexinFintech by 65.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,818 shares of the company’s stock worth $31,000 after buying an additional 2,296 shares during the period. Invesco Ltd. lifted its holdings in LexinFintech by 2.2% during the 1st quarter. Invesco Ltd. now owns 118,893 shares of the company’s stock worth $1,200,000 after purchasing an additional 2,616 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of LexinFintech by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 46,206 shares of the company’s stock worth $466,000 after purchasing an additional 4,639 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of LexinFintech by 350.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock worth $72,000 after purchasing an additional 7,756 shares during the period. Finally, ABN Amro Investment Solutions raised its position in LexinFintech by 10.3% during the third quarter. ABN Amro Investment Solutions now owns 97,017 shares of the company’s stock valued at $517,000 after purchasing an additional 9,038 shares in the last quarter.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.