LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) Short Interest Up 94.8% in August

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 4,616,015 shares, an increase of 94.8% from the August 15th total of 2,369,578 shares. Based on an average daily volume of 3,661,717 shares, the short-interest ratio is presently 1.3 days. Currently, 3.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LX. Weiss Ratings downgraded LexinFintech from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Citigroup lowered LexinFintech from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $4.38 to $1.20 in a report on Tuesday, September 1st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, LexinFintech presently has a consensus rating of “Reduce” and an average price target of $2.35.

LexinFintech Stock Performance

Shares of LX traded up $0.02 during trading hours on Thursday, hitting $0.82. The stock had a trading volume of 1,156,088 shares, compared to its average volume of 2,228,638. The firm has a 50-day moving average price of $1.28 and a 200 day moving average price of $1.88. LexinFintech has a fifty-two week low of $0.78 and a fifty-two week high of $5.94. The firm has a market capitalization of $136.68 million, a price-to-earnings ratio of 0.97 and a beta of 0.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.09.

LexinFintech (NASDAQ:LX) last released its quarterly earnings data on Friday, August 14th. The company reported $0.11 earnings per share for the quarter. The company had revenue of $469.10 million during the quarter. LexinFintech had a net margin of 7.94% and a return on equity of 8.59%.

Hedge Funds Weigh In On LexinFintech

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in LexinFintech by 30.5% in the 1st quarter. Principal Financial Group Inc. now owns 3,379,109 shares of the company’s stock worth $7,366,000 after acquiring an additional 788,840 shares in the last quarter. Oasis Management Co Ltd. boosted its stake in shares of LexinFintech by 56.9% in the fourth quarter. Oasis Management Co Ltd. now owns 1,744,075 shares of the company’s stock worth $5,703,000 after acquiring an additional 632,575 shares during the last quarter. Anatole Investment Management Ltd boosted its stake in shares of LexinFintech by 79.6% in the fourth quarter. Anatole Investment Management Ltd now owns 4,870,383 shares of the company’s stock worth $15,926,000 after acquiring an additional 2,159,246 shares during the last quarter. Brilliance Asset Management Ltd. increased its position in shares of LexinFintech by 24.2% during the fourth quarter. Brilliance Asset Management Ltd. now owns 3,601,592 shares of the company’s stock worth $11,777,000 after purchasing an additional 701,943 shares in the last quarter. Finally, Prudential PLC purchased a new stake in shares of LexinFintech during the fourth quarter worth approximately $498,000.

About LexinFintech

LexinFintech Holdings Ltd. is a China-based financial technology company that provides consumer finance and related services through digital platforms. Its business is primarily focused on helping consumers access installment financing and other credit products through online channels.

The company operates Fenqile, an online consumer platform that combines shopping and financial services. Fenqile has offered installment-payment options for merchandise and services, along with personal loans and other consumer credit products.