Lufax (NYSE:LU) Stock Price Down 5.3% – Time to Sell?

Lufax Holding Ltd (NYSE:LU) fell 5.3% on Monday . The company traded as low as $2.97 and last traded at $2.96. 573,588 shares were traded during trading, a decline of 84% from the average session volume of 3,570,324 shares. The stock had previously closed at $3.12.

Lufax Stock Performance

The firm has a 50-day simple moving average of $2.87 and a two-hundred day simple moving average of $2.68. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -3.82 and a beta of 0.71.

Hedge Funds Weigh In On Lufax

Large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Lufax by 102.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,600 shares of the company’s stock worth $40,000 after purchasing an additional 8,382 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Lufax by 230.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 17,282 shares of the company’s stock worth $41,000 after acquiring an additional 12,048 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of Lufax by 43.6% in the fourth quarter. Corient Private Wealth LLC now owns 21,218 shares of the company’s stock valued at $51,000 after purchasing an additional 6,445 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Lufax in the first quarter valued at approximately $70,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of Lufax by 24.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 32,677 shares of the company’s stock valued at $79,000 after acquiring an additional 6,422 shares during the period. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About Lufax

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.