LexinFintech (NASDAQ:LX) Hits New 12-Month Low – Here’s Why
by Mitch Edgeman · The Markets DailyLexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $2.94 and last traded at $2.9950, with a volume of 473422 shares changing hands. The stock had previously closed at $2.99.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on LX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of LexinFintech in a report on Monday, December 29th. UBS Group downgraded LexinFintech from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $13.60 to $3.50 in a report on Thursday, December 4th. Finally, Wall Street Zen cut LexinFintech from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, LexinFintech has a consensus rating of “Hold” and a consensus target price of $3.50.
Get Our Latest Research Report on LX
LexinFintech Stock Performance
The stock has a 50 day simple moving average of $3.21 and a 200 day simple moving average of $4.82. 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 company has a market cap of $487.95 million, a price-to-earnings ratio of 2.04 and a beta of 0.71.
Institutional Trading of LexinFintech
Large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 in the last quarter. Tower Research Capital LLC TRC lifted its holdings in LexinFintech by 350.5% in 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. ABN Amro Investment Solutions boosted its position in LexinFintech by 10.3% in the 3rd quarter. ABN Amro Investment Solutions now owns 97,017 shares of the company’s stock valued at $517,000 after buying an additional 9,038 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of LexinFintech during the second quarter valued at about $75,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of LexinFintech during the third quarter valued at about $60,000.
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.