Lufax (NYSE:LU) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Lufax (NYSE:LU) in a report published on Friday morning, Marketbeat reports. The brokerage issued a neutral rating and a $2.00 price target on the stock.

Separately, Wall Street Zen cut shares of Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and an average target price of $2.00.

Lufax Stock Down 6.7%

Shares of LU opened at $1.90 on Friday. The stock has a market capitalization of $1.64 billion, a P/E ratio of -2.43 and a beta of 0.76. Lufax has a twelve month low of $1.73 and a twelve month high of $4.57. The company has a 50 day moving average of $2.30 and a 200-day moving average of $2.68.

Lufax (NYSE:LU) last issued 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. On average, sell-side analysts anticipate that Lufax will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lufax

Several hedge funds and other institutional investors have recently made changes to their positions in LU. Scientech Research LLC bought a new position in shares of Lufax in the third quarter valued at $46,000. Hudson Bay Capital Management LP acquired a new stake in Lufax during the 2nd quarter valued at $58,000. Headlands Technologies LLC boosted its position in Lufax by 245.1% during the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after purchasing an additional 19,126 shares during the period. Virtu Financial LLC bought a new position in Lufax during the fourth quarter worth $96,000. Finally, Profund Advisors LLC boosted its position in Lufax by 26.1% during the third quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock worth $129,000 after purchasing an additional 6,565 shares during the period. 69.14% of the stock is owned by institutional investors.

Key Headlines Impacting Lufax

Here are the key news stories impacting Lufax this week:

• Neutral Sentiment: JPMorgan initiated coverage on LU with a Neutral rating and a $2.00 price target, signaling limited upside from current levels and providing an analyst anchor but not a bullish catalyst. JPMorgan Coverage
• Negative Sentiment: Multiple law firms have filed or announced class actions and are soliciting lead plaintiffs against Lufax, increasing legal risk, potential future settlement costs and reputational damage that can pressure the share price. Representative filings and solicitations include notices from Rosen Law Firm and others. Rosen Notice Hagens Berman Filing
• Negative Sentiment: Some complaints specifically allege inadequate disclosures and cite the company’s firing of an auditor who purportedly raised red flags, which heightens governance and internal-control concerns that investors view as a material risk. Expect continued downward pressure until clarity on allegations, regulatory or auditor developments, or company responses emerge. SueWallSt Disclosure Scrutiny

About Lufax

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.