Lufax (NYSE:LU) Hits New 52-Week Low – Time to Sell?

Shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) hit a new 52-week low on Thursday . The stock traded as low as $1.29 and last traded at $1.2850, with a volume of 729225 shares trading hands. The stock had previously closed at $1.35.

Analyst Upgrades and Downgrades

LU has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. began coverage on Lufax in a research note on Friday, April 17th. They issued a “neutral” rating and a $2.00 price objective on the stock. Wall Street Zen upgraded shares of Lufax from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research note on Monday, May 18th. Finally, Zacks Research raised shares of Lufax to a “hold” rating in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $2.00.

Lufax Trading Down 5.6%

The firm has a 50-day moving average of $1.75 and a 200 day moving average of $2.25. The company has a market cap of $1.11 billion, a P/E ratio of -1.63 and a beta of 0.76.

Lufax (NYSE:LU) last issued its earnings results on Monday, March 30th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.19). The business had revenue of $724.89 million during the quarter, compared to analyst estimates of $761.36 million. On average, equities analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.02 EPS for the current year.

Institutional Trading of Lufax

Hedge funds have recently modified their holdings of the stock. HRT Financial LP lifted its position in shares of Lufax by 4.2% during the 4th quarter. HRT Financial LP now owns 109,823 shares of the company’s stock valued at $281,000 after acquiring an additional 4,453 shares during the period. Franklin Resources Inc. grew its holdings in Lufax by 2.4% in the third quarter. Franklin Resources Inc. now owns 222,929 shares of the company’s stock worth $905,000 after purchasing an additional 5,209 shares during the period. Geode Capital Management LLC increased its stake in Lufax by 3.9% in the second quarter. Geode Capital Management LLC now owns 143,238 shares of the company’s stock valued at $400,000 after purchasing an additional 5,417 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Lufax by 2.8% in the first quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after purchasing an additional 6,600 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Lufax by 2.4% during the first quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after purchasing an additional 7,608 shares during the period. Institutional investors own 69.14% of the company’s stock.

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.