LexinFintech (NASDAQ:LX) Trading Down 5.4% – Should You Sell?

Shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) were down 5.4% during mid-day trading on Thursday . The company traded as low as $1.7150 and last traded at $1.75. 3,251,882 shares were traded during trading, an increase of 115% from the average session volume of 1,512,040 shares. The stock had previously closed at $1.85.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded LexinFintech from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, LexinFintech has an average rating of “Hold” and a consensus price target of $3.50.

LexinFintech Trading Down 5.4%

The firm’s 50 day simple moving average is $2.04 and its 200-day simple moving average is $2.49. The company has a market capitalization of $293.12 million, a PE ratio of 1.52 and a beta of 0.82. The company has a quick ratio of 2.02, a current ratio of 2.03 and a debt-to-equity ratio of 0.15.

Institutional Trading of LexinFintech

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in LexinFintech by 0.3% in the fourth quarter. State Street Corp now owns 1,126,561 shares of the company’s stock valued at $3,684,000 after purchasing an additional 3,666 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of LexinFintech by 150.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,601 shares of the company’s stock worth $31,000 after purchasing an additional 5,773 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of LexinFintech by 350.5% in the second 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 during the period. Ariadne Wealth Management LP boosted its position in shares of LexinFintech by 50.4% in the first quarter. Ariadne Wealth Management LP now owns 24,107 shares of the company’s stock worth $53,000 after buying an additional 8,080 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of LexinFintech by 9.0% in the first quarter. California Public Employees Retirement System now owns 131,329 shares of the company’s stock valued at $286,000 after buying an additional 10,843 shares in the last quarter.

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.