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

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s share price reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $7.66 and last traded at $7.7950, with a volume of 28,845 shares trading hands. The stock had previously closed at $7.88.

Analysts Set New Price Targets

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

Lufax Trading Down 5.1%

The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $647.86 million, a P/E ratio of -1.24 and a beta of 0.80. The firm’s 50-day moving average price is $10.41 and its 200 day moving average price is $16.67.

Lufax (NYSE:LU) last issued its quarterly earnings data on Wednesday, October 28th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $10.81 by ($11.08). The business had revenue of $921.68 million during the quarter, compared to analysts’ expectations of $2.22 billion. As a group, equities research analysts predict that Lufax Holding Ltd. Sponsored ADR will post -1.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LU. Barometer Capital Management Inc. lifted its stake in Lufax by 7,538.6% during the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock valued at $1,000,000 after acquiring an additional 527,700 shares in the last quarter. StoneX Group Inc. purchased a new position in Lufax during the 3rd quarter worth $47,000. Asset Management One Co. Ltd. boosted its holdings in Lufax by 8.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 37,853 shares of the company’s stock worth $46,000 after acquiring an additional 2,994 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Lufax in the 2nd quarter worth $60,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Lufax in the 2nd quarter worth $157,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Lufax Company Profile