Lufax (NYSE:LU) Sees Strong Trading Volume – Should You Buy?

Lufax Holding Ltd. Sponsored ADR (NYSE:LUGet Free Report) saw strong trading volume on Tuesday . 1,672,082 shares were traded during trading, an increase of 10% from the previous session’s volume of 1,521,928 shares.The stock last traded at $1.7950 and had previously closed at $1.88.

Trending Headlines about Lufax

Here are the key news stories impacting Lufax this week:

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Lufax from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Lufax currently has an average rating of “Sell”.

Check Out Our Latest Stock Report on Lufax

Lufax Trading Down 4.0%

The business’s 50-day simple moving average is $2.59 and its 200-day simple moving average is $2.85. The company has a market capitalization of $1.56 billion, a PE ratio of -2.31 and a beta of 0.64.

Lufax (NYSE:LUGet Free Report) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($1.19) EPS for the quarter. The firm had revenue of $724.89 million for the quarter. Sell-side analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Lufax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scientech Research LLC purchased a new position in shares of Lufax during the 3rd quarter valued at about $46,000. Hudson Bay Capital Management LP purchased a new stake in shares of Lufax in the second quarter worth about $58,000. Headlands Technologies LLC boosted its stake in shares of Lufax by 245.1% in the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after buying an additional 19,126 shares during the last quarter. Virtu Financial LLC acquired a new stake in Lufax during the fourth quarter worth about $96,000. Finally, Profund Advisors LLC raised its position in Lufax by 26.1% during the third quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock valued at $129,000 after acquiring an additional 6,565 shares in the last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.

About Lufax

(Get Free Report)

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.

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