Lufax (NYSE:LU) Trading 7.9% Higher – Time to Buy?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) shares shot up 7.9% during trading on Monday . The company traded as high as $1.31 and last traded at $1.3050. 395,040 shares changed hands during trading, a decline of 68% from the average daily volume of 1,249,623 shares. The stock had previously closed at $1.21.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LU shares. Zacks Research cut shares of Lufax from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Wall Street Zen lowered shares of Lufax from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Deutsche Bank Aktiengesellschaft set a $1.40 price target on shares of Lufax and gave the stock a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price for the company in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $1.70.

Lufax Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a market capitalization of $1.13 billion, a P/E ratio of -2.16 and a beta of 0.76. The company’s 50 day moving average price is $1.39 and its 200 day moving average price is $1.68.

Lufax (NYSE:LU) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($1.12). The business had revenue of $916.61 million during the quarter, compared to analysts’ expectations of $2.22 billion. As a group, sell-side analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Lufax

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Scientech Research LLC acquired a new stake in shares of Lufax in the third quarter valued at about $46,000. Fulton Bank N.A. bought a new position in Lufax during the 1st quarter worth $27,000. Hudson Bay Capital Management LP acquired a new stake in shares of Lufax during the second quarter worth $58,000. Headlands Technologies LLC grew its position in shares of Lufax by 245.1% during the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after purchasing an additional 19,126 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Lufax during the 4th quarter worth $96,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.

About Lufax

Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates an online platform connecting borrowers, lenders and wealth-management customers. The company primarily serves small business owners, self-employed individuals and retail investors through digital financial products and services.

Lufax’s business includes consumer and small-business lending, wealth-management services and related technology solutions. Its platform uses data analytics, risk-management tools and digital processes to support loan origination, servicing and investment transactions.