LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) Short Interest Down 14.1% in January

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 5,840,274 shares, a drop of 14.1% from the January 15th total of 6,797,516 shares. Based on an average daily trading volume, of 1,513,128 shares, the days-to-cover ratio is currently 3.9 days. Currently, 4.8% of the shares of the stock are sold short. Currently, 4.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,513,128 shares, the days-to-cover ratio is currently 3.9 days.

Analysts Set New Price Targets

Several research firms have weighed in on LX. UBS Group downgraded shares of LexinFintech from a “buy” rating to a “neutral” rating and dropped their target price for the company from $13.60 to $3.50 in a report on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of LexinFintech in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded LexinFintech from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, LexinFintech presently has an average rating of “Hold” and an average target price of $3.50.

Institutional Investors Weigh In On LexinFintech

A number of institutional investors have recently modified their holdings of LX. Mirae Asset Global Investments Co. Ltd. boosted its position in LexinFintech by 65.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,818 shares of the company’s stock valued at $31,000 after purchasing an additional 2,296 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of LexinFintech by 150.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,601 shares of the company’s stock worth $31,000 after purchasing an additional 5,773 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of LexinFintech during the 4th quarter valued at about $59,000. Hudson Bay Capital Management LP acquired a new stake in shares of LexinFintech during the 3rd quarter valued at about $60,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of LexinFintech by 350.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock valued at $72,000 after buying an additional 7,756 shares in the last quarter.

LexinFintech Stock Down 0.5%

Shares of LX traded down $0.02 during mid-day trading on Wednesday, reaching $2.99. The company’s stock had a trading volume of 999,447 shares, compared to its average volume of 1,615,860. The company has a market cap of $502.27 million, a price-to-earnings ratio of 2.10 and a beta of 0.74. The business has a fifty day moving average of $3.07 and a 200 day moving average of $4.42. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.08. LexinFintech has a 1 year low of $2.62 and a 1 year high of $11.64.

About LexinFintech

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.