Lufax (NYSE:LU) Reaches New 1-Year Low – Should You Sell?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) reached a new 52-week low during trading on Friday . The stock traded as low as $1.4750 and last traded at $1.4850, with a volume of 800355 shares traded. The stock had previously closed at $1.55.

Analyst Ratings Changes

Several research firms recently commented on LU. Zacks Research upgraded shares of Lufax to a “hold” rating in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. began coverage on shares of Lufax in a research note on Friday, April 17th. They set a “neutral” rating and a $2.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lufax has a consensus rating of “Reduce” and a consensus target price of $2.00.

Lufax Stock Performance

The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -1.85 and a beta of 0.76. The stock’s 50 day simple moving average is $1.84 and its 200-day simple moving average is $2.32.

Lufax (NYSE:LU) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($1.19) earnings per share (EPS) for the quarter. The business had revenue of $724.89 million for the quarter. On average, analysts expect that Lufax Holding Ltd. Sponsored ADR will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LU. Alpine Investment Management Ltd acquired a new position in Lufax during the 3rd quarter valued at approximately $17,154,000. Norges Bank acquired a new position in Lufax during the 4th quarter valued at approximately $8,067,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Lufax by 2,378.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,168,162 shares of the company’s stock valued at $6,049,000 after acquiring an additional 2,080,678 shares during the last quarter. Yunqi Capital Ltd boosted its holdings in shares of Lufax by 8.4% in the 3rd quarter. Yunqi Capital Ltd now owns 10,950,138 shares of the company’s stock valued at $44,458,000 after acquiring an additional 852,098 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Lufax in the 2nd quarter valued at $2,276,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

About Lufax

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.