Lufax (NYSE:LU) Sets New 52-Week Low – Here’s What Happened

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s share price hit a new 52-week low on Tuesday. The company traded as low as $0.8415 and last traded at $0.8710, with a volume of 1,447,762 shares. The stock had previously closed at $0.8682.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LU shares. JPMorgan Chase & Co. upgraded shares of Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price on the stock in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft set a $1.40 price target on shares of Lufax and gave the company a “hold” rating in a report on Thursday, August 27th. Zacks Research raised Lufax from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Wall Street Zen lowered Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Lufax currently has an average rating of “Hold” and an average target price of $1.70.

Lufax Stock Performance

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 firm has a market capitalization of $721.09 million, a price-to-earnings ratio of -1.36 and a beta of 0.69. The stock has a fifty day moving average price of $1.19 and a 200-day moving average price of $1.45.

Lufax shares are scheduled 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 market closes on Thursday, October 22nd.

Lufax (NYSE:LU) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate 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. As a group, analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in shares of Lufax by 2.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after purchasing an additional 6,600 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Lufax by 2.4% in the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock worth $615,000 after purchasing an additional 7,608 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Lufax by 4.7% during the 1st 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 in the last quarter. Fulton Bank N.A. acquired a new stake in shares of Lufax during the 1st quarter worth about $27,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Lufax during the 2nd quarter worth about $60,000. 69.14% of the stock is owned by institutional investors.

Lufax Company Profile

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.