Lufax (NYSE:LU) Sees Large Volume Increase – What’s Next?

Shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) saw unusually-strong trading volume on Wednesday. Approximately 304,975 shares traded hands during trading, an increase of 115% from the average daily volume of 142,091 shares. The stock last traded at $8.3350 and had previously closed at $8.16.

Analyst Ratings Changes

LU has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Tuesday, July 28th. Zacks Research upgraded Lufax from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Deutsche Bank Aktiengesellschaft set a $14.00 price target on Lufax and gave the company a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a report on Thursday, August 13th. Finally, Wall Street Zen lowered Lufax from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lufax has a consensus rating of “Hold” and an average target price of $17.00.

Lufax Price Performance

The firm has a market cap of $721.53 million, a P/E ratio of -1.37 and a beta of 0.80. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.08. The business’s fifty day simple moving average is $10.77 and its 200-day simple moving average is $17.02.

Lufax (NYSE:LU) last released its quarterly earnings results on Tuesday, October 27th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $10.81 by ($11.08). The business had revenue of $921.68 million during the quarter, compared to analysts’ expectations of $2.22 billion. As a group, analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -1.44 EPS for the current fiscal year.

Institutional Trading of Lufax

Several large investors have recently modified their holdings of LU. Barometer Capital Management Inc. raised its stake in Lufax by 7,538.6% during the first quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock valued at $1,000,000 after buying an additional 527,700 shares during the last quarter. Ramsey Quantitative Systems purchased a new stake in Lufax during the 2nd quarter valued at $199,000. Public Employees Retirement System of Ohio purchased a new position in Lufax in the second quarter worth about $157,000. Engineers Gate Manager LP bought a new stake in Lufax during the second quarter valued at approximately $60,000. Finally, StoneX Group Inc. purchased a new stake in shares of Lufax in the 3rd quarter worth $47,000. 69.14% of the stock is owned by institutional investors.

About Lufax

Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates digital platforms for retail and small-business finance. The company connects consumers and small-business owners with financial products and services through online channels and technology-enabled processes.

Lufax’s business has historically included retail lending, wealth management and related financial services. Its platforms have provided access to consumer and small-business loans, investment products and other services offered in cooperation with financial institutions.