Lufax (NYSE:LU) Reaches New 1-Year Low – Here’s What Happened

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.19 and last traded at $1.1950, with a volume of 54408 shares. The stock had previously closed at $1.21.

Analyst Ratings Changes

A number of research firms have commented on LU. Wall Street Zen downgraded Lufax from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 price target for the company in a report on Tuesday, July 28th. Zacks Research downgraded Lufax from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft set a $1.40 target price on shares of Lufax and gave the company a “hold” rating in a research report on Thursday, August 27th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Lufax currently has an average rating of “Reduce” and a consensus price target of $1.70.

Lufax Stock Performance

The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -1.99 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.72 and a current ratio of 1.72. The firm has a 50-day simple moving average of $1.40 and a two-hundred day simple moving average of $1.70.

Lufax (NYSE:LU) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($1.12). The firm had revenue of $916.61 million for the quarter, compared to analyst estimates of $2.22 billion. On average, sell-side analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Lufax

A number of hedge funds have recently added to or reduced their stakes in the business. Scientech Research LLC purchased a new position in Lufax in the 3rd quarter valued at approximately $46,000. Fulton Bank N.A. acquired a new position in shares of Lufax in the first quarter worth $27,000. Hudson Bay Capital Management LP purchased a new stake in shares of Lufax during the second quarter worth $58,000. Headlands Technologies LLC raised its stake in shares of Lufax by 245.1% in 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. Finally, Virtu Financial LLC acquired a new stake in shares of Lufax in the fourth quarter valued at $96,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.

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.