Lufax (NYSE:LU) Hits New 52-Week Low – What’s Next?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.20 and last traded at $1.26, with a volume of 2477679 shares changing hands. The stock had previously closed at $1.25.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Zacks Research upgraded Lufax to a “hold” rating in a report on Tuesday, April 21st. Wall Street Zen raised Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. assumed coverage on Lufax in a report on Friday, April 17th. They set a “neutral” rating and a $2.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $2.00.

Lufax Trading Down 3.5%

The business’s 50 day moving average price is $1.67 and its two-hundred day moving average price is $2.20. The stock has a market cap of $1.07 billion, a P/E ratio of -1.58 and a beta of 0.76.

Lufax (NYSE:LU) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.19). The company had revenue of $724.89 million for the quarter, compared to the consensus estimate of $761.36 million. As a group, analysts expect that Lufax Holding Ltd. Sponsored ADR will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. HRT Financial LP boosted its position in shares of Lufax by 4.2% during the fourth quarter. HRT Financial LP now owns 109,823 shares of the company’s stock valued at $281,000 after purchasing an additional 4,453 shares in the last quarter. Franklin Resources Inc. lifted its position in Lufax by 2.4% during the third quarter. Franklin Resources Inc. now owns 222,929 shares of the company’s stock valued at $905,000 after buying an additional 5,209 shares during the period. Geode Capital Management LLC lifted its position in Lufax by 3.9% during the second quarter. Geode Capital Management LLC now owns 143,238 shares of the company’s stock valued at $400,000 after buying an additional 5,417 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Lufax by 2.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after buying an additional 6,600 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Lufax by 2.4% in the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock worth $615,000 after buying an additional 7,608 shares during the period. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.