LexinFintech (NASDAQ:LX) Stock Price Down 1.5% – What’s Next?

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) dropped 1.5% during trading on Tuesday . The company traded as low as $1.33 and last traded at $1.34. 1,180,002 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 1,802,281 shares. The stock had previously closed at $1.36.

Wall Street Analyst Weigh In

LX has been the subject of several research analyst reports. Weiss Ratings lowered shares of LexinFintech from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $3.50.

LexinFintech Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 2.02. The stock has a 50 day moving average price of $1.69 and a two-hundred day moving average price of $2.16. The firm has a market capitalization of $224.45 million, a price-to-earnings ratio of 1.17 and a beta of 0.88.

Hedge Funds Weigh In On LexinFintech

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in LexinFintech by 150.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,601 shares of the company’s stock valued at $31,000 after acquiring an additional 5,773 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of LexinFintech by 88.2% during the first quarter. QRG Capital Management Inc. now owns 24,078 shares of the company’s stock worth $52,000 after purchasing an additional 11,285 shares in the last quarter. Ariadne Wealth Management LP lifted its position in shares of LexinFintech by 50.4% during the first quarter. Ariadne Wealth Management LP now owns 24,107 shares of the company’s stock worth $53,000 after purchasing an additional 8,080 shares in the last quarter. New York State Common Retirement Fund purchased a new position in shares of LexinFintech in the fourth quarter valued at approximately $59,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of LexinFintech by 350.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock valued at $72,000 after purchasing an additional 7,756 shares during the period.

LexinFintech Company Profile

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.