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

Shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $1.15 and last traded at $1.1650, with a volume of 1273538 shares. The stock had previously closed at $1.16.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LU shares. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft set a $1.40 price objective on Lufax and gave the company a “hold” rating in a research report on Thursday, August 27th. JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price on the stock in a research note on Tuesday, July 28th. Zacks Research lowered Lufax from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen lowered Lufax from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $1.70.

Lufax Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72. The stock has a market capitalization of $1.18 billion, a P/E ratio of -2.24 and a beta of 0.76. The stock’s fifty day moving average is $1.37 and its 200-day moving average is $1.60.

Lufax (NYSE:LU) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($1.12). The business had revenue of $916.61 million during the quarter, compared to the consensus estimate of $2.22 billion. On average, equities analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On Lufax

Institutional investors have recently modified their holdings of the company. Alpine Investment Management Ltd grew its stake in shares of Lufax by 91.9% during the fourth quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company’s stock valued at $20,753,000 after purchasing an additional 3,881,500 shares during the last quarter. Barometer Capital Management Inc. raised its position in Lufax by 7,538.6% in the 1st 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. Fideuram Asset Management Ireland dac acquired a new position in Lufax during the 4th quarter worth $498,000. Ramsey Quantitative Systems bought a new position in Lufax in the 2nd quarter valued at $199,000. Finally, Public Employees Retirement System of Ohio bought a new position in Lufax in the 2nd quarter valued at $157,000. Institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates an online platform connecting borrowers, lenders and wealth-management customers. The company primarily serves small business owners, self-employed individuals and retail investors through digital financial products and services.

Lufax’s business includes consumer and small-business lending, wealth-management services and related technology solutions. Its platform uses data analytics, risk-management tools and digital processes to support loan origination, servicing and investment transactions.