LexinFintech (NASDAQ:LX) Stock Price Down 0.6% – Here’s Why

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)’s stock price dropped 0.6% during trading on Monday. The company traded as low as $0.6410 and last traded at $0.6993. 3,396,020 shares were traded during trading, an increase of 83% from the average session volume of 1,851,031 shares. The stock had previously closed at $0.7037.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup lowered shares of LexinFintech from a “buy” rating to a “neutral” rating and cut their target price for the company from $4.38 to $1.20 in a research report on Tuesday, September 1st. Wall Street Zen downgraded LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings lowered shares of LexinFintech from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $2.35.

LexinFintech Stock Down 0.6%

The company has a market capitalization of $117.13 million, a PE ratio of 0.83 and a beta of 0.86. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $1.00 and a 200 day moving average of $1.64.

LexinFintech (NASDAQ:LX) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.11 EPS for the quarter. LexinFintech had a net margin of 7.94% and a return on equity of 8.59%. The business had revenue of $469.10 million for the quarter.

Institutional Trading of LexinFintech

A number of institutional investors have recently modified their holdings of LX. Principal Financial Group Inc. grew its position in shares of LexinFintech by 30.5% in the first quarter. Principal Financial Group Inc. now owns 3,379,109 shares of the company’s stock valued at $7,366,000 after purchasing an additional 788,840 shares in the last quarter. Anatole Investment Management Ltd raised its position in shares of LexinFintech by 79.6% in the fourth 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 in the last quarter. Headlands Technologies LLC bought a new position in LexinFintech in the 2nd quarter worth about $181,000. Renaissance Technologies LLC raised its holdings in shares of LexinFintech by 6.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,328,262 shares of the company’s stock valued at $2,896,000 after acquiring an additional 83,362 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of LexinFintech by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,779,739 shares of the company’s stock worth $3,873,000 after purchasing an additional 12,548 shares during the last quarter.

LexinFintech Company Profile

LexinFintech Holdings Limited is a China-based fintech company that provides technology-enabled consumer finance services. Through its platforms, the company connects consumers seeking installment-payment and personal-loan products with financial institutions and other funding partners.

Its services have historically included Fenqile, an online consumer finance and installment-shopping platform, as well as technology solutions supporting credit assessment, loan facilitation, risk management and customer services.