Lufax (NYSE:LU) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Lufax (NYSE:LU) from a hold rating to a sell rating in a report published on Saturday.

Several other equities analysts have also recently issued reports on LU. Zacks Research cut Lufax from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price on the stock in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Lufax currently has an average rating of “Reduce” and an average target price of $2.00.

Lufax Price Performance

LU stock opened at $1.41 on Friday. The company has a market capitalization of $1.22 billion, a P/E ratio of -1.80 and a beta of 0.81. The business has a 50 day simple moving average of $1.41 and a 200-day simple moving average of $1.85. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08. Lufax has a twelve month low of $1.20 and a twelve month high of $4.57.

Lufax (NYSE:LU) last issued its quarterly earnings data on Tuesday, August 18th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($1.12). The business had revenue of $916.61 million for the quarter, compared to the consensus estimate of $2.22 billion. As a group, equities analysts anticipate that Lufax will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Scientech Research LLC purchased a new position in Lufax during the third quarter worth about $46,000. Fulton Bank N.A. purchased a new stake in Lufax in the 1st quarter valued at approximately $27,000. Hudson Bay Capital Management LP purchased a new stake in Lufax in the 2nd quarter valued at approximately $58,000. Headlands Technologies LLC increased its position in Lufax by 245.1% during the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after purchasing an additional 19,126 shares during the period. Finally, Virtu Financial LLC acquired a new position in Lufax during the 4th quarter worth approximately $96,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.

About Lufax

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.