LexinFintech (NASDAQ:LX) Shares Up 9.5% – Still a Buy?

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)’s stock price rose 9.5% on Tuesday . The company traded as high as $3.01 and last traded at $3.0230. Approximately 1,078,013 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 1,599,529 shares. The stock had previously closed at $2.76.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen lowered shares of LexinFintech from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “hold (c)” rating on shares of LexinFintech in a report on Monday, December 29th. Finally, UBS Group downgraded shares of LexinFintech from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $13.60 to $3.50 in a research note on Thursday, December 4th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.50.

LexinFintech Price Performance

The stock’s 50-day moving average is $3.08 and its 200 day moving average is $4.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market cap of $504.78 million, a PE ratio of 2.11 and a beta of 0.74.

Institutional Investors Weigh In On LexinFintech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in shares of LexinFintech by 201.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,482,060 shares of the company’s stock worth $14,954,000 after acquiring an additional 991,075 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in LexinFintech in the 2nd quarter worth approximately $75,000. Allianz Asset Management GmbH grew its position in LexinFintech by 8.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 478,513 shares of the company’s stock worth $3,450,000 after purchasing an additional 36,998 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in LexinFintech during the 2nd quarter valued at approximately $2,490,000. Finally, ANTIPODES PARTNERS Ltd raised its holdings in shares of LexinFintech by 97.2% in the second quarter. ANTIPODES PARTNERS Ltd now owns 63,315 shares of the company’s stock worth $457,000 after buying an additional 31,204 shares during the last quarter.

LexinFintech Company Profile

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.