Lufax (NYSE:LU) Hits New 1-Year Low – Should You Sell?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) reached a new 52-week low on Thursday . The company traded as low as $1.71 and last traded at $1.7050, with a volume of 456279 shares traded. The stock had previously closed at $1.79.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Zacks Research raised shares of Lufax to a “hold” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. assumed coverage on shares of Lufax in a research note on Friday, April 17th. They issued a “neutral” rating and a $2.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research note on Monday. Finally, Wall Street Zen raised shares of Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Lufax has a consensus rating of “Reduce” and a consensus price target of $2.00.

Lufax Trading Down 5.3%

The firm has a market cap of $1.47 billion, a P/E ratio of -2.17 and a beta of 0.81. The business’s fifty day moving average price is $1.96 and its two-hundred day moving average price is $2.42.

Lufax (NYSE:LU) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($1.19) earnings per share for the quarter. The firm had revenue of $724.89 million for the quarter. Research analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Fulton Bank N.A. bought a new position in Lufax in the 1st quarter worth $27,000. Scientech Research LLC bought a new position in Lufax in the 3rd quarter worth $46,000. Hudson Bay Capital Management LP bought a new position in Lufax in the 2nd quarter worth $58,000. Headlands Technologies LLC raised its holdings in Lufax by 245.1% in the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after acquiring an additional 19,126 shares during the period. Finally, Virtu Financial LLC bought a new position in Lufax in the 4th quarter worth $96,000. Institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.