LexinFintech (NASDAQ:LX) Trading Down 1.5% – Here’s Why

Shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) were down 1.5% during mid-day trading on Tuesday . The stock traded as low as $1.33 and last traded at $1.34. Approximately 1,180,002 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 1,802,281 shares. The stock had previously closed at $1.36.

Analyst Ratings Changes

LX has been the topic of several research analyst reports. Weiss Ratings lowered LexinFintech from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded LexinFintech from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, LexinFintech has an average rating of “Reduce” and a consensus price target of $3.50.

LexinFintech Price Performance

The company has a current ratio of 2.03, a quick ratio of 2.02 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $1.67 and a 200 day simple moving average of $2.15. The stock has a market capitalization of $223.61 million, a P/E ratio of 1.16 and a beta of 0.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of LexinFintech in the fourth quarter worth about $1,414,000. Principal Financial Group Inc. lifted its stake in shares of LexinFintech by 30.5% during the 1st quarter. Principal Financial Group Inc. now owns 3,379,109 shares of the company’s stock valued at $7,366,000 after buying an additional 788,840 shares in the last quarter. Anatole Investment Management Ltd boosted its holdings in LexinFintech by 79.6% in the 4th quarter. Anatole Investment Management Ltd now owns 4,870,383 shares of the company’s stock worth $15,926,000 after buying an additional 2,159,246 shares during the period. Oasis Management Co Ltd. boosted its holdings in LexinFintech by 56.9% in the 4th quarter. Oasis Management Co Ltd. now owns 1,744,075 shares of the company’s stock worth $5,703,000 after buying an additional 632,575 shares during the period. Finally, Brilliance Asset Management Ltd. grew its stake in LexinFintech by 24.2% in the 4th quarter. Brilliance Asset Management Ltd. now owns 3,601,592 shares of the company’s stock valued at $11,777,000 after buying an additional 701,943 shares in the last quarter.

About LexinFintech

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.