Lufax (NYSE:LU) Shares Gap Up – What’s Next?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $1.22, but opened at $1.3350. Lufax shares last traded at $1.3540, with a volume of 1,294,816 shares.

Analyst Ratings Changes

A number of research analysts recently commented on LU shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a report on Thursday, August 13th. Wall Street Zen cut Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Deutsche Bank Aktiengesellschaft set a $1.40 price objective on Lufax and gave the company a “hold” rating in a research report on Thursday, August 27th. Zacks Research cut Lufax from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price for the company in a report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $1.70.

Lufax Stock Up 11.1%

The company has a 50-day simple moving average of $1.37 and a 200-day simple moving average of $1.60. The firm has a market cap of $1.17 billion, a PE ratio of -2.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72.

Lufax (NYSE:LU) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $2.22 billion. Analysts expect that Lufax Holding Ltd. Sponsored ADR will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of Lufax

Several institutional investors and hedge funds have recently made changes to their positions in the business. Alpine Investment Management Ltd grew its holdings in shares of Lufax by 91.9% in the fourth quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company’s stock worth $20,753,000 after purchasing an additional 3,881,500 shares during the last quarter. Barometer Capital Management Inc. lifted its holdings in Lufax by 7,538.6% during the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock valued at $1,000,000 after buying an additional 527,700 shares in the last quarter. California Public Employees Retirement System boosted its position in Lufax by 2.4% in the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after buying an additional 7,608 shares during the period. Bank of New York Mellon Corp boosted its position in Lufax by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock valued at $595,000 after buying an additional 14,224 shares during the period. Finally, Fideuram Asset Management Ireland dac bought a new position in Lufax in the 4th quarter worth about $498,000. 69.14% of the stock is currently owned by institutional investors.

Lufax Company Profile

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.