LexinFintech (NASDAQ:LX) Reaches New 52-Week Low – Should You Sell?

Shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $3.15 and last traded at $3.1450, with a volume of 1162942 shares changing hands. The stock had previously closed at $3.26.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LexinFintech in a report on Wednesday, October 8th. Wall Street Zen cut shares of LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, UBS Group lowered LexinFintech from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $13.60 to $3.50 in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.50.

LexinFintech Trading Down 0.8%

The firm’s fifty day simple moving average is $4.12 and its 200 day simple moving average is $5.69. The stock has a market capitalization of $522.45 million, a P/E ratio of 2.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.80 and a current ratio of 1.80.

Hedge Funds Weigh In On LexinFintech

A number of institutional investors have recently modified their holdings of LX. Vanguard Group Inc. acquired a new stake in LexinFintech in the first quarter valued at about $44,048,000. Alliancebernstein L.P. boosted its stake in shares of LexinFintech by 1,862.9% in the 1st quarter. Alliancebernstein L.P. now owns 3,715,319 shares of the company’s stock valued at $37,488,000 after purchasing an additional 3,526,039 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of LexinFintech by 320.4% during the 3rd quarter. Bank of America Corp DE now owns 3,861,508 shares of the company’s stock valued at $20,582,000 after purchasing an additional 2,942,964 shares during the last quarter. Man Group plc increased its position in LexinFintech by 207.0% during the 2nd quarter. Man Group plc now owns 3,419,971 shares of the company’s stock worth $24,658,000 after purchasing an additional 2,306,088 shares in the last quarter. Finally, UBS Group AG lifted its stake in LexinFintech by 337.4% in the 3rd quarter. UBS Group AG now owns 2,563,047 shares of the company’s stock valued at $13,661,000 after purchasing an additional 1,977,021 shares during the last quarter.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.