Lufax (NYSE:LU) Shares Up 4.2% – Time to Buy?

Shares of Lufax Holding Ltd (NYSE:LU) were up 4.2% during trading on Friday . The company traded as high as $2.78 and last traded at $2.75. Approximately 1,728,809 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 3,942,341 shares. The stock had previously closed at $2.64.

Analyst Ratings Changes

A number of analysts recently commented on LU shares. Jefferies Financial Group reiterated a “hold” rating and issued a $3.20 price objective on shares of Lufax in a research report on Thursday, October 24th. Bank of America lowered their price objective on Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a research report on Friday, August 23rd.

Lufax Stock Up 4.9 %

The stock has a market cap of $2.40 billion, a P/E ratio of -3.57 and a beta of 0.85. The stock has a fifty day simple moving average of $2.76 and a 200-day simple moving average of $2.72.

Lufax (NYSE:LU) last issued its earnings results on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). Lufax had a negative return on equity of 3.63% and a negative net margin of 12.75%. The company had revenue of $789.93 million for the quarter. During the same quarter in the prior year, the business posted $0.04 EPS. Sell-side analysts anticipate that Lufax Holding Ltd will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Lufax

Several institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. lifted its stake in Lufax by 15.9% in the 2nd quarter. Baillie Gifford & Co. now owns 14,011,971 shares of the company’s stock valued at $33,208,000 after acquiring an additional 1,922,185 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Lufax by 43.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock valued at $10,829,000 after acquiring an additional 936,048 shares in the last quarter. Caxton Associates LP bought a new stake in Lufax in the 2nd quarter valued at approximately $2,152,000. AQR Capital Management LLC bought a new stake in Lufax in the 2nd quarter valued at approximately $1,114,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Lufax in the 3rd quarter valued at approximately $1,479,000. Institutional investors own 69.14% of the company’s stock.

About Lufax

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.