LexinFintech (NASDAQ:LX) Shares Gap Down – Here’s What Happened

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) gapped down prior to trading on Wednesday . The stock had previously closed at $10.59, but opened at $9.85. LexinFintech shares last traded at $10.71, with a volume of 1,199,362 shares changing hands.

Analysts Set New Price Targets

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

LexinFintech Price Performance

The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.10. The firm’s 50 day simple moving average is $8.06 and its 200 day simple moving average is $5.28. The company has a market capitalization of $1.76 billion, a PE ratio of 17.38 and a beta of 0.60.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings data on Tuesday, March 18th. The company reported $0.28 EPS for the quarter. The company had revenue of $501.26 million during the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

Institutional Trading of LexinFintech

A number of large investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of LexinFintech in the fourth quarter valued at about $29,000. Wolverine Trading LLC bought a new position in LexinFintech in the third quarter worth about $29,000. Centiva Capital LP purchased a new stake in shares of LexinFintech during the third quarter worth about $41,000. Ameriprise Financial Inc. purchased a new stake in shares of LexinFintech during the fourth quarter worth about $61,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of LexinFintech during the fourth quarter worth about $70,000.

LexinFintech Company Profile

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.