LexinFintech (NASDAQ:LX) Stock Price Down 8.1% – Here’s Why

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) fell 8.1% during mid-day trading on Tuesday . The stock traded as low as $3.46 and last traded at $3.4730. 820,748 shares changed hands during trading, a decline of 77% from the average session volume of 3,506,651 shares. The stock had previously closed at $3.78.

Wall Street Analyst Weigh In

LX has been the subject of a number of recent research reports. Wall Street Zen lowered LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “hold (c+)” rating on shares of LexinFintech in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, LexinFintech currently has an average rating of “Moderate Buy” and a consensus price target of $13.60.

LexinFintech Stock Down 8.1%

The company has a 50-day moving average of $4.85 and a two-hundred day moving average of $6.24. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $584.70 million, a P/E ratio of 2.74 and a beta of 0.51.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings results on Monday, November 24th. The company reported $0.41 earnings per share for the quarter. LexinFintech had a return on equity of 14.67% and a net margin of 11.50%.The firm had revenue of $480.05 million during the quarter.

Institutional Investors Weigh In On LexinFintech

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BRIGHT VALLEY CAPITAL Ltd grew its holdings in shares of LexinFintech by 33.0% in the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 5,305,208 shares of the company’s stock worth $53,530,000 after acquiring an additional 1,315,208 shares during the period. Acadian Asset Management LLC grew its position in shares of LexinFintech by 16.6% during the 1st quarter. Acadian Asset Management LLC now owns 4,669,331 shares of the company’s stock valued at $47,092,000 after acquiring an additional 663,330 shares during the period. Vanguard Group Inc. purchased a new stake in shares of LexinFintech in the 1st quarter worth $44,048,000. Allianz Asset Management GmbH bought a new position in LexinFintech in the 1st quarter worth $4,455,000. Finally, Nomura Holdings Inc. grew its holdings in LexinFintech by 437.7% during the first quarter. Nomura Holdings Inc. now owns 509,512 shares of the company’s stock valued at $5,141,000 after purchasing an additional 414,749 shares during the period.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.