Lufax (NYSE:LU) Shares to Reverse Split on Friday, October 23rd

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) shares are going to reverse split on Friday, October 23rd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, October 22nd.

Lufax Price Performance

Shares of NYSE:LU opened at $0.98 on Friday. The business has a fifty day moving average price of $1.29 and a 200-day moving average price of $1.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72. The company has a market capitalization of $852.82 million, a PE ratio of -1.61 and a beta of 0.69. Lufax has a 1-year low of $0.91 and a 1-year high of $3.99.

Lufax (NYSE:LU) last posted 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 during the quarter, compared to analysts’ expectations of $2.22 billion. As a group, equities analysts expect that Lufax will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $1.40 target price on shares of Lufax and gave the stock a “hold” rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. upgraded shares of Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 price objective for the company in a report on Tuesday, July 28th. Zacks Research raised Lufax from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Wall Street Zen cut Lufax from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $1.70.

Institutional Trading of Lufax

A number of institutional investors have recently made changes to their positions in LU. Barometer Capital Management Inc. grew its stake in shares of Lufax by 7,538.6% in the first quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock worth $1,000,000 after acquiring an additional 527,700 shares during the period. Alpine Investment Management Ltd lifted its position in Lufax by 91.9% during the fourth quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company’s stock valued at $20,753,000 after purchasing an additional 3,881,500 shares during the period. California Public Employees Retirement System lifted its position in 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. Fulton Bank N.A. purchased a new stake in Lufax in the first quarter worth approximately $27,000. Finally, Engineers Gate Manager LP purchased a new stake in Lufax in the second quarter worth approximately $60,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About Lufax

Lufax Holding Ltd. (NYSE: LU) is a China-based financial technology company that provides technology-enabled retail and small-business financial services. Its platform has connected borrowers, financial institutions and investors, with services focused primarily on consumer and small-business lending, wealth management and related financial products.

The company uses data analytics, digital platforms and risk-management technologies to support customer acquisition, credit assessment, loan servicing and financial-product distribution.