Lufax (NYSE:LU) Stock Price Down 3.3% – Should You Sell?

Lufax Holding Ltd (NYSE:LU) shares traded down 3.3% during trading on Thursday . The company traded as low as $2.31 and last traded at $2.33. 62,411 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 3,999,499 shares. The stock had previously closed at $2.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LU shares. Bank of America dropped their target price on 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, October 24th.

Lufax Trading Down 2.5 %

The firm’s 50 day moving average price is $2.84 and its two-hundred day moving average price is $2.93.

Lufax (NYSE:LU) last announced its quarterly earnings data on Monday, October 21st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). The firm had revenue of $789.93 million during the quarter. Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. During the same period in the prior year, the firm posted $0.04 EPS. Research analysts expect that Lufax Holding Ltd will post -0.48 EPS for the current fiscal year.

Institutional Trading of Lufax

A number of institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. acquired a new stake in shares of Lufax during the first quarter valued at about $797,000. Russell Investments Group Ltd. bought a new stake in shares of Lufax in the first quarter worth $2,649,000. Quadrature Capital Ltd acquired a new stake in Lufax in the first quarter valued at $1,865,000. Bayesian Capital Management LP bought a new position in Lufax during the 1st quarter valued at $178,000. Finally, Simplicity Wealth LLC bought a new stake in shares of Lufax in the 2nd quarter worth about $79,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

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.