LexinFintech (NASDAQ:LX) Upgraded at Wall Street Zen

LexinFintech (NASDAQ:LX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

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

LexinFintech Stock Performance

NASDAQ:LX traded down $0.15 during mid-day trading on Friday, reaching $1.59. 9,052,014 shares of the stock were exchanged, compared to its average volume of 1,627,392. The company has a 50 day simple moving average of $2.03 and a 200-day simple moving average of $2.49. The stock has a market capitalization of $267.16 million, a P/E ratio of 1.39 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. LexinFintech has a 1 year low of $1.54 and a 1 year high of $7.99.

Institutional Trading of LexinFintech

A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its holdings in shares of LexinFintech by 201.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,482,060 shares of the company’s stock valued at $14,954,000 after purchasing an additional 991,075 shares during the period. Quantbot Technologies LP acquired a new stake in shares of LexinFintech during the second quarter worth $107,000. Alliancebernstein L.P. grew its position in LexinFintech by 4.1% in the 2nd quarter. Alliancebernstein L.P. now owns 3,865,830 shares of the company’s stock valued at $27,873,000 after buying an additional 150,511 shares during the last quarter. Canada Pension Plan Investment Board grew its position in LexinFintech by 41.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 531,900 shares of the company’s stock valued at $3,835,000 after buying an additional 155,400 shares during the last quarter. Finally, Seldon Capital LP increased its stake in LexinFintech by 61.9% in the 2nd quarter. Seldon Capital LP now owns 657,686 shares of the company’s stock valued at $4,742,000 after buying an additional 251,537 shares during the period.

LexinFintech Company Profile

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.