Lufax (NYSE:LU) Trading Up 4.1% – Here’s What Happened

Lufax Holding Ltd (NYSE:LU)’s stock price shot up 4.1% during mid-day trading on Monday . The company traded as high as $3.15 and last traded at $3.15. 1,983,224 shares were traded during mid-day trading, a decline of 48% from the average session volume of 3,789,836 shares. The stock had previously closed at $3.02.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft cut Lufax from a “hold” rating to a “sell” rating in a report on Tuesday, April 29th.

Lufax Price Performance

The stock has a market cap of $2.69 billion, a P/E ratio of -4.03 and a beta of 0.71. The company has a 50 day simple moving average of $2.82 and a 200-day simple moving average of $2.67.

Institutional Trading of Lufax

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Beijing Investment Ltd purchased a new stake in shares of Lufax during the first quarter worth about $13,046,000. Caxton Associates LLP purchased a new position in Lufax during the 1st quarter valued at $2,710,000. Goldman Sachs Group Inc. raised its holdings in Lufax by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,343,505 shares of the company’s stock worth $3,990,000 after purchasing an additional 8,236 shares in the last quarter. Tiger Pacific Capital LP boosted its stake in shares of Lufax by 71.7% during the 1st quarter. Tiger Pacific Capital LP now owns 6,757,978 shares of the company’s stock valued at $20,071,000 after purchasing an additional 2,821,316 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Lufax by 32.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 604,823 shares of the company’s stock valued at $1,796,000 after buying an additional 148,724 shares during the period. Institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.