LexinFintech (NASDAQ:LX) Reaches New 1-Year Low – Time to Sell?

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) reached a new 52-week low on Thursday . The company traded as low as $3.06 and last traded at $3.1250, with a volume of 275216 shares traded. The stock had previously closed at $3.08.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LX shares. Wall Street Zen downgraded LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LexinFintech in a research report on Monday, December 29th. Finally, UBS Group downgraded shares of LexinFintech from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $13.60 to $3.50 in a research report on Thursday, December 4th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.50.

LexinFintech Trading Up 0.8%

The company’s fifty day moving average is $3.56 and its 200-day moving average is $5.26. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $522.45 million, a P/E ratio of 2.19 and a beta of 0.71.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its stake in LexinFintech by 4.6% during the 2nd quarter. Acadian Asset Management LLC now owns 4,884,131 shares of the company’s stock valued at $35,192,000 after purchasing an additional 214,800 shares during the last quarter. Vanguard Group Inc. raised its position in shares of LexinFintech by 2.1% during the third quarter. Vanguard Group Inc. now owns 4,642,573 shares of the company’s stock valued at $24,745,000 after buying an additional 94,490 shares during the last quarter. Man Group plc increased its stake in LexinFintech by 28.2% during the third quarter. Man Group plc now owns 4,384,533 shares of the company’s stock valued at $23,370,000 after acquiring an additional 964,562 shares during the period. Alliancebernstein L.P. raised its holdings in LexinFintech by 4.1% in the 2nd quarter. Alliancebernstein L.P. now owns 3,865,830 shares of the company’s stock valued at $27,873,000 after acquiring an additional 150,511 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of LexinFintech by 320.4% in the 3rd quarter. Bank of America Corp DE now owns 3,861,508 shares of the company’s stock worth $20,582,000 after acquiring an additional 2,942,964 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.