Lufax (NYSE:LU) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Lufax (NYSE:LU) from a sell rating to a hold rating in a research report report published on Saturday morning.

A number of other research firms also recently commented on LU. Zacks Research upgraded shares of Lufax to a “hold” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. started coverage on shares of Lufax in a report on Friday, April 17th. They set a “neutral” rating and a $2.00 price target on the stock. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $2.00.

Lufax Price Performance

NYSE LU opened at $1.95 on Friday. The company’s 50 day simple moving average is $2.07 and its 200 day simple moving average is $2.50. Lufax has a 12 month low of $1.73 and a 12 month high of $4.57. The company has a market capitalization of $1.69 billion, a P/E ratio of -2.49 and a beta of 0.81.

Lufax (NYSE:LU) last released its earnings results on Tuesday, February 17th. The company reported ($1.19) EPS for the quarter. The company had revenue of $724.89 million for the quarter. On average, analysts anticipate that Lufax will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System increased its stake in Lufax by 2.4% in the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after buying an additional 7,608 shares during the period. Bank of New York Mellon Corp increased its stake in Lufax by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock valued at $595,000 after buying an additional 14,224 shares during the period. Fulton Bank N.A. acquired a new position in Lufax in the 1st quarter valued at approximately $27,000. Hsbc Holdings PLC increased its stake in Lufax by 11.5% in the 4th quarter. Hsbc Holdings PLC now owns 79,547 shares of the company’s stock valued at $204,000 after buying an additional 8,194 shares during the period. Finally, Virtu Financial LLC acquired a new position in Lufax in the 4th quarter valued at approximately $96,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

More Lufax News

Here are the key news stories impacting Lufax this week:

• Neutral Sentiment: Lufax also announced it regained compliance with the NYSE continued listing standard after becoming current with required SEC filings, removing an overhang related to exchange compliance. Lufax Regains Compliance with NYSE Continued Listing Standard
• Negative Sentiment: New and repeated class-action notices suggest investors are actively pursuing claims against Lufax, increasing legal uncertainty and the risk of distraction, costs, or a settlement. Bronstein, Gewirtz & Grossman LLC Urges Lufax Holding Ltd Investors to Act

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.