Lufax (NYSE:LU) Stock Price Up 7% – Time to Buy?

Lufax Holding Ltd (NYSE:LU)’s stock price traded up 7% during mid-day trading on Friday . The stock traded as high as $3.14 and last traded at $3.15. 785,651 shares were traded during trading, a decline of 77% from the average session volume of 3,343,612 shares. The stock had previously closed at $2.94.

Lufax Price Performance

The firm has a 50-day moving average of $2.52 and a 200-day moving average of $2.62. The stock has a market cap of $2.68 billion, a PE ratio of -4.02 and a beta of 0.84.

Institutional Trading of Lufax

Institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Lufax by 102.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,600 shares of the company’s stock valued at $40,000 after purchasing an additional 8,382 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Lufax by 230.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 17,282 shares of the company’s stock valued at $41,000 after purchasing an additional 12,048 shares during the last quarter. EWA LLC bought a new stake in shares of Lufax in the 3rd quarter valued at approximately $45,000. Corient Private Wealth LLC lifted its stake in shares of Lufax by 43.6% in the 4th quarter. Corient Private Wealth LLC now owns 21,218 shares of the company’s stock valued at $51,000 after purchasing an additional 6,445 shares during the last quarter. Finally, Soltis Investment Advisors LLC bought a new stake in shares of Lufax in the 3rd quarter valued at approximately $52,000. 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.