Lufax (NYSE:LU) Hits New 52-Week Low – Should You Sell?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $1.19 and last traded at $1.1850, with a volume of 299404 shares trading hands. The stock had previously closed at $1.20.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LU. JPMorgan Chase & Co. raised Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 price objective on the stock in a research report on Tuesday, July 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft set a $1.40 target price on shares of Lufax and gave the stock a “hold” rating in a research report on Thursday, August 27th. Zacks Research cut shares of Lufax from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Lufax has an average rating of “Reduce” and an average price target of $1.70.

Lufax Price Performance

The firm has a fifty day moving average of $1.38 and a 200 day moving average of $1.64. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.04 billion, a P/E ratio of -1.96 and a beta of 0.76.

Lufax (NYSE:LU) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $1.08 by ($1.12). The firm had revenue of $916.61 million for the quarter, compared to analysts’ expectations of $2.22 billion. On average, equities research analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Lufax

Institutional investors and hedge funds have recently made changes to their positions in the business. Fulton Bank N.A. purchased a new position in shares of Lufax during the 1st quarter worth $27,000. Engineers Gate Manager LP purchased a new stake in Lufax in the 2nd quarter worth approximately $60,000. Public Employees Retirement System of Ohio bought a new stake in Lufax during the 2nd quarter worth approximately $157,000. Ramsey Quantitative Systems bought a new position in shares of Lufax in the second quarter worth approximately $199,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of Lufax during the 4th quarter valued at $498,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About Lufax

Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates an online platform connecting borrowers, lenders and wealth-management customers. The company primarily serves small business owners, self-employed individuals and retail investors through digital financial products and services.

Lufax’s business includes consumer and small-business lending, wealth-management services and related technology solutions. Its platform uses data analytics, risk-management tools and digital processes to support loan origination, servicing and investment transactions.