Lufax (NYSE:LU) Shares Down 6.3% – Should You Sell?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s share price fell 6.3% during mid-day trading on Monday . The company traded as low as $1.26 and last traded at $1.2550. 236,433 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,401,605 shares. The stock had previously closed at $1.34.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research report on Monday, May 18th. Zacks Research raised Lufax to a “hold” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. assumed coverage on Lufax in a report on Friday, April 17th. They set a “neutral” rating and a $2.00 price objective for the company. Finally, Wall Street Zen raised Lufax from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lufax has an average rating of “Reduce” and a consensus target price of $2.00.

Lufax Trading Up 3.6%

The business’s 50-day simple moving average is $1.53 and its 200-day simple moving average is $2.08. The company has a market capitalization of $1.12 billion, a PE ratio of -1.66 and a beta of 0.79.

Institutional Investors Weigh In On Lufax

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Lufax by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 12,399,445 shares of the company’s stock valued at $50,342,000 after buying an additional 335,480 shares during the last quarter. Yunqi Capital Ltd grew its holdings in Lufax by 8.4% during the third quarter. Yunqi Capital Ltd now owns 10,950,138 shares of the company’s stock worth $44,458,000 after acquiring an additional 852,098 shares during the period. Alpine Investment Management Ltd raised its position in Lufax by 91.9% during the fourth quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company’s stock valued at $20,753,000 after acquiring an additional 3,881,500 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Lufax by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,802,005 shares of the company’s stock valued at $14,853,000 after acquiring an additional 240,225 shares in the last quarter. Finally, Norges Bank acquired a new position in Lufax in the fourth quarter valued at approximately $8,067,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

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.