Lufax (NYSE:LU) Reaches New 52-Week Low – Here’s Why

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) shares hit a new 52-week low on Wednesday. The stock traded as low as $0.9054 and last traded at $0.8820, with a volume of 83,340 shares trading hands. The stock had previously closed at $0.9201.

Analyst Upgrades and Downgrades

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

Lufax Price Performance

The company has a fifty day simple moving average of $1.27 and a 200-day simple moving average of $1.50. The company has a market cap of $772.22 million, a P/E ratio of -1.46 and a beta of 0.69. 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’s stock is scheduled to reverse split on Friday, October 23rd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, October 22nd.

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 during the quarter, compared to analyst estimates of $2.22 billion. On average, sell-side analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Lufax

A number of large investors have recently made changes to their positions in LU. Barometer Capital Management Inc. grew its stake 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 purchasing an additional 527,700 shares during the last quarter. California Public Employees Retirement System raised its position in Lufax by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock worth $615,000 after buying an additional 7,608 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of 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 acquiring an additional 14,224 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Lufax by 2.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after acquiring an additional 6,600 shares during the last quarter. Finally, Ramsey Quantitative Systems purchased a new position in shares of Lufax during the second quarter worth $199,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

Lufax Company Profile

Lufax Holding Ltd. (NYSE: LU) is a China-based financial technology company that provides technology-enabled retail and small-business financial services. Its platform has connected borrowers, financial institutions and investors, with services focused primarily on consumer and small-business lending, wealth management and related financial products.

The company uses data analytics, digital platforms and risk-management technologies to support customer acquisition, credit assessment, loan servicing and financial-product distribution.