Lufax (NYSE:LU) Trading Up 7.7% – Still a Buy?

Lufax Holding Ltd (NYSE:LU) traded up 7.7% during trading on Tuesday . The company traded as high as $2.70 and last traded at $2.72. 1,421,065 shares traded hands during trading, a decline of 40% from the average session volume of 2,367,175 shares. The stock had previously closed at $2.52.

Analyst Upgrades and Downgrades

Separately, 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.

Lufax Trading Up 6.9 %

The firm’s fifty day moving average price is $2.45 and its 200-day moving average price is $2.65. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -3.50, a price-to-earnings-growth ratio of 0.90 and a beta of 0.84.

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

Institutional Trading of Lufax

Several institutional investors and hedge funds have recently bought and sold shares of LU. Renaissance Technologies LLC grew its stake in Lufax by 6.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,688,219 shares of the company’s stock valued at $6,371,000 after buying an additional 152,025 shares during the last quarter. Caxton Associates LP bought a new stake in Lufax in the 2nd quarter valued at $2,152,000. AQR Capital Management LLC acquired a new position in Lufax in the 2nd quarter valued at $1,114,000. SIH Partners LLLP bought a new position in Lufax during the 2nd quarter worth $65,000. Finally, Maven Securities LTD lifted its holdings in shares of Lufax by 350.0% during the second quarter. Maven Securities LTD now owns 180,000 shares of the company’s stock worth $427,000 after buying an additional 140,000 shares in the last quarter. 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.