Lufax (NYSE:LU) Stock Falls 13.1% – Time to Sell?

by · The Markets Daily

Lufax Holding Ltd. Sponsored ADR (NYSE:LU – Get Free Report) shares were down 13.1% on Monday. The stock traded as low as $8.13 and last traded at $8.1150. Approximately 147,024 shares traded hands during trading, an increase of 0% from the average daily volume of 146,753 shares. The stock had previously closed at $9.34.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LU. Wall Street Zen downgraded shares of Lufax from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Research raised shares of Lufax from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Deutsche Bank Aktiengesellschaft set a $14.00 price target on shares of Lufax and gave the stock a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Lufax has a consensus rating of “Hold” and a consensus price target of $17.00.

Check Out Our Latest Analysis on LU

Lufax Stock Down 8.6%

The stock has a fifty day moving average price of $10.31 and a 200 day moving average price of $16.57. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market capitalization of $624.28 million, a P/E ratio of -1.18 and a beta of 0.80.

Lufax (NYSE:LU – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.81 by ($11.08). The company had revenue of $921.68 million during the quarter, compared to the consensus estimate of $2.22 billion. On average, research analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -1.44 earnings per share for the current year.

Institutional Investors Weigh In On Lufax

Several hedge funds and other institutional investors have recently modified their holdings of the stock. StoneX Group Inc. bought a new position in shares of Lufax in the third quarter valued at approximately $47,000. Asset Management One Co. Ltd. increased its holdings in Lufax by 8.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 37,853 shares of the company’s stock worth $46,000 after acquiring an additional 2,994 shares during the period. Engineers Gate Manager LP bought a new stake in Lufax during the 2nd quarter worth approximately $60,000. Public Employees Retirement System of Ohio purchased a new stake in Lufax in the 2nd quarter worth approximately $157,000. Finally, Ramsey Quantitative Systems purchased a new stake in Lufax in the 2nd quarter worth approximately $199,000. 69.14% of the stock is currently owned by institutional investors.

About Lufax

(Get Free Report)

Lufax Holding Ltd. is a China-based financial technology company that provides technology-enabled financial services. Its platform connects individual and small-business borrowers with financial institutions and other funding partners, helping customers access credit and related services. The company also offers wealth management services, including access to investment products for retail customers. Lufax was established in 2011 as part of Ping An Insurance Group and has developed its business around China’s financial services market.

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