LexinFintech (NASDAQ:LX) Sets New 12-Month Low – Here’s Why

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $2.97 and last traded at $2.9950, with a volume of 542563 shares trading hands. The stock had previously closed at $3.00.

Wall Street Analyst Weigh In

A number of brokerages have commented on LX. Wall Street Zen lowered LexinFintech from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. UBS Group cut shares of LexinFintech from a “buy” rating to a “neutral” rating and reduced their target price for the company from $13.60 to $3.50 in a research report on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LexinFintech in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.50.

LexinFintech Price Performance

The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $499.73 million, a price-to-earnings ratio of 2.09 and a beta of 0.71. The business’s 50 day simple moving average is $3.36 and its 200-day simple moving average is $5.01.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in LexinFintech by 65.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,818 shares of the company’s stock worth $31,000 after purchasing an additional 2,296 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of LexinFintech during the 3rd quarter worth $60,000. Tower Research Capital LLC TRC raised its holdings in shares of LexinFintech by 350.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock worth $72,000 after buying an additional 7,756 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of LexinFintech during the 2nd quarter worth $75,000. Finally, Prelude Capital Management LLC acquired a new stake in LexinFintech in the third quarter valued at about $80,000.

About LexinFintech

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.