Lufax (NYSE:LU) Stock Price Up 5.3% – What’s Next?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) traded up 5.3% during trading on Friday. The stock traded as high as $6.87 and last traded at $6.93. 116,098 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 156,213 shares. The stock had previously closed at $6.58.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Tuesday, July 28th. Deutsche Bank set a $14.00 price target on shares of Lufax and gave the company a “hold” rating in a report on Thursday, August 27th. Wall Street Zen lowered shares of Lufax from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research note on Wednesday. Finally, Zacks Research upgraded shares of Lufax from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.00.

Lufax Stock Performance

The business’s fifty day simple moving average is $10.10 and its 200-day simple moving average is $16.37. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market capitalization of $614.49 million, a PE ratio of -1.59 and a beta of 0.80.

Lufax (NYSE:LU) last issued its earnings results on Wednesday, October 28th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $10.81 by ($11.08). The company had revenue of $921.68 million for the quarter, compared to analysts’ expectations of $2.22 billion. As a group, equities research analysts expect that Lufax Holding Ltd. Sponsored ADR will post -1.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barometer Capital Management Inc. raised its stake in shares of Lufax by 7,538.6% in the first quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock valued at $1,000,000 after acquiring an additional 527,700 shares during the period. California Public Employees Retirement System grew its holdings in Lufax by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after purchasing an additional 7,608 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Lufax by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock valued at $595,000 after purchasing an additional 14,224 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Lufax by 2.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after purchasing an additional 6,600 shares during the last quarter. Finally, Ramsey Quantitative Systems purchased a new stake in Lufax in the 2nd quarter worth about $199,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

Lufax Company Profile

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.