Lufax (NYSE:LU) Sees Strong Trading Volume – Here’s What Happened

Lufax Holding Ltd. Sponsored ADR (NYSE:LUGet Free Report) saw an uptick in trading volume on Tuesday . 1,672,082 shares changed hands during trading, an increase of 10% from the previous session’s volume of 1,521,928 shares.The stock last traded at $1.7950 and had previously closed at $1.88.

Key Headlines Impacting Lufax

Here are the key news stories impacting Lufax this week:

Analyst Ratings Changes

Separately, Wall Street Zen lowered Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, Lufax presently has an average rating of “Sell”.

Check Out Our Latest Report on Lufax

Lufax Price Performance

The company’s fifty day simple moving average is $2.59 and its 200-day simple moving average is $2.85. The firm has a market capitalization of $1.56 billion, a PE ratio of -2.31 and a beta of 0.64.

Lufax (NYSE:LUGet Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($1.19) earnings per share for the quarter. The firm had revenue of $724.89 million during the quarter. As a group, equities research analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lufax

Large investors have recently modified their holdings of the business. Scientech Research LLC acquired a new position in shares of Lufax during the third quarter valued at about $46,000. Hudson Bay Capital Management LP purchased a new stake in Lufax during the 2nd quarter worth approximately $58,000. Headlands Technologies LLC increased its stake in Lufax by 245.1% during the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock valued at $75,000 after purchasing an additional 19,126 shares in the last quarter. Virtu Financial LLC acquired a new position in Lufax during the 4th quarter valued at approximately $96,000. Finally, Profund Advisors LLC raised its holdings in shares of Lufax by 26.1% in the third quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock worth $129,000 after buying an additional 6,565 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About Lufax

(Get Free Report)

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.

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