LexinFintech (NASDAQ:LX) Sets New 1-Year Low – Here’s What Happened

Shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) hit a new 52-week low during trading on Monday . The company traded as low as $2.94 and last traded at $2.9950, with a volume of 473422 shares traded. The stock had previously closed at $2.99.

Wall Street Analyst Weigh In

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

LexinFintech Stock Down 0.7%

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.80 and a quick ratio of 1.80. The business’s fifty day moving average price is $3.27 and its two-hundred day moving average price is $4.89. The stock has a market capitalization of $499.73 million, a PE ratio of 2.09 and a beta of 0.71.

Institutional Trading of LexinFintech

A number of hedge funds have recently modified their holdings of LX. Mirae Asset Global Investments Co. Ltd. raised its position in LexinFintech by 65.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,818 shares of the company’s stock valued at $31,000 after acquiring an additional 2,296 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of LexinFintech by 350.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock valued at $72,000 after purchasing an additional 7,756 shares in the last quarter. ABN Amro Investment Solutions lifted its stake in shares of LexinFintech by 10.3% in the 3rd quarter. ABN Amro Investment Solutions now owns 97,017 shares of the company’s stock valued at $517,000 after purchasing an additional 9,038 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of LexinFintech in the 2nd quarter valued at $75,000. Finally, Hudson Bay Capital Management LP acquired a new stake in LexinFintech during the third quarter valued at $60,000.

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.