Wall Street Zen Downgrades LexinFintech (NASDAQ:LX) to Hold

LexinFintech (NASDAQ:LX) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings lowered shares of LexinFintech from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.50.

LexinFintech Price Performance

Shares of NASDAQ:LX opened at $1.48 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 2.02. The firm has a market capitalization of $247.90 million, a PE ratio of 1.29 and a beta of 0.82. The firm’s 50-day moving average is $1.92 and its two-hundred day moving average is $2.35. LexinFintech has a 1 year low of $1.41 and a 1 year high of $7.17.

Institutional Investors Weigh In On LexinFintech

Several large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its position in LexinFintech by 150.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,601 shares of the company’s stock valued at $31,000 after purchasing an additional 5,773 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of LexinFintech by 88.2% during the first quarter. QRG Capital Management Inc. now owns 24,078 shares of the company’s stock worth $52,000 after buying an additional 11,285 shares in the last quarter. Ariadne Wealth Management LP grew its position in shares of LexinFintech by 50.4% during the first quarter. Ariadne Wealth Management LP now owns 24,107 shares of the company’s stock worth $53,000 after buying an additional 8,080 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in shares of LexinFintech during the fourth quarter worth approximately $59,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of LexinFintech by 350.5% during the second quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock worth $72,000 after buying an additional 7,756 shares during the period.

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.