Lufax (NYSE:LU) Shares Gap Up – What’s Next?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $2.69, but opened at $2.99. Lufax shares last traded at $3.1250, with a volume of 1,902,398 shares trading hands.

Lufax Stock Performance

The company has a 50-day moving average price of $2.69 and a 200-day moving average price of $2.93. The firm has a market capitalization of $2.56 billion, a P/E ratio of -3.84 and a beta of 0.63.

Lufax (NYSE:LU) last released its earnings results on Sunday, February 15th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($1.16). The business had revenue of $724.89 million during the quarter, compared to analysts’ expectations of $761.36 million. Equities analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Lufax by 2.8% in the third quarter. Vanguard Group Inc. now owns 12,399,445 shares of the company’s stock worth $50,342,000 after purchasing an additional 335,480 shares during the period. Yunqi Capital Ltd raised its stake in Lufax by 8.4% during the 3rd quarter. Yunqi Capital Ltd now owns 10,950,138 shares of the company’s stock worth $44,458,000 after buying an additional 852,098 shares during the period. Alpine Investment Management Ltd raised its stake in Lufax by 91.9% during the 4th quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company’s stock worth $20,753,000 after buying an additional 3,881,500 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Lufax by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,802,005 shares of the company’s stock worth $14,853,000 after acquiring an additional 240,225 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in Lufax by 58.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,311,555 shares of the company’s stock valued at $9,239,000 after acquiring an additional 1,221,383 shares during the period. Institutional investors and hedge funds own 69.14% of the company’s stock.

Lufax Company Profile

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.