Lufax Holding Ltd. Sponsored ADR (NYSE:LU) Shares Shorted: Short Interest Down 92.4% in October

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) saw a significant decrease in short interest in the month of October. As of October 30th, there was short interest totaling 428,038 shares, a decrease of 92.4% from the October 15th total of 5,642,877 shares. Based on an average daily trading volume, of 762,104 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LU. Barometer Capital Management Inc. boosted its position in Lufax by 7,538.6% in the first quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock worth $1,000,000 after purchasing an additional 527,700 shares during the last quarter. StoneX Group Inc. purchased a new stake in Lufax during the third quarter valued at approximately $47,000. Asset Management One Co. Ltd. boosted its stake in shares of 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 purchasing an additional 2,994 shares during the period. Engineers Gate Manager LP purchased a new stake in Lufax in the second quarter worth $60,000. Finally, Public Employees Retirement System of Ohio bought a new position in Lufax in the second quarter worth approximately $157,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

Lufax Trading Down 8.6%

Shares of NYSE LU traded down $0.68 during trading on Tuesday, reaching $7.20. The company had a trading volume of 997,081 shares, compared to its average volume of 153,863. Lufax has a 12 month low of $7.12 and a 12 month high of $32.10. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $10.41 and its 200-day moving average price is $16.67. The stock has a market cap of $624.28 million, a P/E ratio of -1.18 and a beta of 0.80.

Lufax (NYSE:LU) last announced its earnings results on Wednesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, research analysts expect that Lufax will post -1.44 earnings per share for the current year.

About Lufax

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.