Lufax (NYSE:LU) Shares Gap Up – Should You Buy?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $1.22, but opened at $1.3350. Lufax shares last traded at $1.3540, with a volume of 1,294,816 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Zacks Research lowered Lufax from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Wall Street Zen downgraded Lufax from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. JPMorgan Chase & Co. raised 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. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft set a $1.40 price target on Lufax and gave the company a “hold” rating in a research note on Thursday, August 27th. One 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, Lufax presently has an average rating of “Reduce” and a consensus target price of $1.70.

Lufax Price Performance

The firm has a market capitalization of $1.17 billion, a PE ratio of -2.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.72 and a current ratio of 1.72. The stock has a fifty day moving average price of $1.37 and a 200-day moving average price of $1.60.

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 company had revenue of $916.61 million during the quarter, compared to analysts’ expectations of $2.22 billion. Sell-side analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current fiscal year.

Institutional Trading of Lufax

Several hedge funds have recently modified their holdings of LU. Engineers Gate Manager LP purchased a new stake in Lufax during the 2nd quarter valued at about $60,000. Public Employees Retirement System of Ohio acquired a new stake in Lufax during the second quarter worth $157,000. Ramsey Quantitative Systems purchased a new stake in Lufax in the 2nd quarter valued at about $199,000. Barometer Capital Management Inc. raised its stake in shares of Lufax by 7,538.6% in the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock valued at $1,000,000 after acquiring an additional 527,700 shares during the period. Finally, California Public Employees Retirement System raised its position in Lufax by 2.4% in the first quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after purchasing an additional 7,608 shares during the period. 69.14% of the stock is owned by hedge funds and other institutional investors.

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.