LexinFintech (NASDAQ:LX) Shares Gap Up – Time to Buy?

LexinFintech Holdings Ltd. (NASDAQ:LX) gapped up prior to trading on Wednesday . The stock had previously closed at $7.78, but opened at $7.99. LexinFintech shares last traded at $8.14, with a volume of 740,939 shares trading hands.

Analysts Set New Price Targets

Separately, Citigroup upgraded shares of LexinFintech from a “neutral” rating to a “buy” rating in a report on Tuesday, November 26th.

LexinFintech Stock Performance

The business’s fifty day moving average price is $6.51 and its two-hundred day moving average price is $4.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market capitalization of $1.33 billion, a P/E ratio of 12.74 and a beta of 0.66.

LexinFintech (NASDAQ:LX) last posted its earnings results on Monday, November 25th. The company reported $0.26 earnings per share for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

Hedge Funds Weigh In On LexinFintech

Large investors have recently made changes to their positions in the company. Wolverine Trading LLC purchased a new position in shares of LexinFintech during the 3rd quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in LexinFintech in the 4th quarter valued at about $29,000. Centiva Capital LP purchased a new stake in LexinFintech in the 3rd quarter valued at about $41,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in LexinFintech in the 4th quarter valued at about $70,000. Finally, Virtu Financial LLC purchased a new stake in LexinFintech in the 3rd quarter valued at about $74,000.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.