Lufax (NYSE:LU) Sets New 12-Month Low – What’s Next?

Shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) hit a new 52-week low on Thursday . The stock traded as low as $1.71 and last traded at $1.7050, with a volume of 456279 shares traded. The stock had previously closed at $1.79.

Wall Street Analyst Weigh In

LU has been the subject of a number of recent research reports. Wall Street Zen raised Lufax from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a report on Monday. Zacks Research raised Lufax to a “hold” rating in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. began coverage on Lufax in a research note on Friday, April 17th. They issued a “neutral” rating and a $2.00 price objective for the company. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lufax has a consensus rating of “Reduce” and a consensus target price of $2.00.

Lufax Stock Down 2.6%

The company has a 50 day moving average price of $1.93 and a 200-day moving average price of $2.40. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -2.10 and a beta of 0.81.

Lufax (NYSE:LU) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($1.19) earnings per share (EPS) for the quarter. The firm had revenue of $724.89 million during the quarter. On average, analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Lufax

Several institutional investors and hedge funds have recently made changes to their positions in the stock. HRT Financial LP increased its stake in shares of Lufax by 4.2% in the fourth quarter. HRT Financial LP now owns 109,823 shares of the company’s stock valued at $281,000 after buying an additional 4,453 shares during the period. Franklin Resources Inc. increased its stake in shares of Lufax by 2.4% in the third quarter. Franklin Resources Inc. now owns 222,929 shares of the company’s stock valued at $905,000 after buying an additional 5,209 shares during the period. Geode Capital Management LLC increased its stake in shares of Lufax by 3.9% in the second quarter. Geode Capital Management LLC now owns 143,238 shares of the company’s stock valued at $400,000 after buying an additional 5,417 shares during the period. Profund Advisors LLC increased its stake in shares of Lufax by 26.1% in the third quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock valued at $129,000 after buying an additional 6,565 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Lufax by 2.8% in the first quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after buying an additional 6,600 shares during the period. Institutional investors and hedge funds own 69.14% of the company’s stock.

Lufax Company Profile

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.