Lufax (NYSE:LU) Reaches New 12-Month Low After Earnings Miss

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) reached a new 52-week low on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $2.29 and last traded at $2.3050, with a volume of 1156132 shares traded. The stock had previously closed at $2.39.

The company reported ($1.19) earnings per share (EPS) for the quarter. The firm had revenue of $724.89 million during the quarter.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Scientech Research LLC purchased a new stake in Lufax in the third quarter valued at about $46,000. Hudson Bay Capital Management LP purchased a new stake in shares of Lufax during the second quarter worth about $58,000. Headlands Technologies LLC increased its holdings in shares of Lufax by 245.1% during the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock valued at $75,000 after acquiring an additional 19,126 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Lufax in the 4th quarter valued at approximately $96,000. Finally, Profund Advisors LLC boosted its stake in Lufax by 26.1% in the 3rd quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock worth $129,000 after purchasing an additional 6,565 shares in the last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.

Lufax Trading Down 3.6%

The company has a market cap of $2.00 billion, a PE ratio of -2.96 and a beta of 0.64. The firm’s 50-day simple moving average is $2.68 and its two-hundred day simple moving average is $2.90.

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.