Lufax (NYSE:LU) Shares Up 7.9% – Here’s Why

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

Analyst Ratings Changes

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

Lufax Trading Down 6.5%

The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average is $1.39 and its 200 day moving average is $1.66. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -1.99 and a beta of 0.76.

Lufax (NYSE:LU) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($1.12). The business had revenue of $916.61 million for the quarter, compared to analyst estimates of $2.22 billion. Research analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Lufax

A number of large investors have recently bought and sold shares of LU. Alpine Investment Management Ltd boosted its holdings in Lufax by 91.9% in the fourth quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company’s stock valued at $20,753,000 after purchasing an additional 3,881,500 shares during the period. Barometer Capital Management Inc. increased its holdings in Lufax by 7,538.6% during the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock worth $1,000,000 after purchasing an additional 527,700 shares during the period. Fideuram Asset Management Ireland dac purchased a new stake in Lufax during the 4th quarter worth about $498,000. Ramsey Quantitative Systems purchased a new stake in Lufax during the 2nd quarter worth about $199,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Lufax in the 2nd quarter valued at about $157,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

Lufax Company Profile

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.