Lufax (NYSE:LU) Trading Up 5.3% – Here’s Why

Lufax Holding Ltd (NYSE:LU) shares rose 5.3% during mid-day trading on Tuesday . The company traded as high as $3.23 and last traded at $3.19. Approximately 961,523 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 4,184,902 shares. The stock had previously closed at $3.03.

Analyst Upgrades and Downgrades

LU has been the topic of several recent research reports. Bank of America lowered their price target on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. Jefferies Financial Group reiterated a “hold” rating and issued a $3.20 target price on shares of Lufax in a report on Thursday.

Lufax Price Performance

The stock has a 50-day simple moving average of $2.77 and a 200 day simple moving average of $3.19. The company has a market cap of $1.66 billion, a PE ratio of -20.71 and a beta of 0.85. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.08.

Lufax (NYSE:LU) last issued its quarterly earnings data on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The company had revenue of $789.93 million during the quarter. Lufax had a negative net margin of 8.70% and a negative return on equity of 2.66%. During the same quarter in the prior year, the business posted $0.04 EPS. Equities analysts expect that Lufax Holding Ltd will post -0.09 EPS for the current year.

Hedge Funds Weigh In On Lufax

A number of hedge funds have recently made changes to their positions in the stock. Panagora Asset Management Inc. acquired a new position in Lufax during the second quarter worth $26,000. Sequoia Financial Advisors LLC purchased a new position in Lufax during the 1st quarter valued at about $60,000. PDS Planning Inc acquired a new position in Lufax in the 1st quarter valued at about $78,000. SG Americas Securities LLC purchased a new stake in Lufax during the third quarter worth about $66,000. Finally, Diversified Trust Co acquired a new stake in shares of Lufax during the first quarter worth about $92,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

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.