Lufax (NYSE:LU) Shares Climb 5.3% – What’s Next?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) shares shot up 5.3% on Friday. The company traded as high as $6.87 and last traded at $6.93. 116,098 shares changed hands during trading, a decline of 26% from the average session volume of 156,213 shares. The stock had previously closed at $6.58.

Wall Street Analyst Weigh In

LU has been the subject of a number of recent research reports. Zacks Research upgraded shares of Lufax from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a report on Wednesday. Deutsche Bank set a $14.00 target price on shares of Lufax and gave the company a “hold” rating in a research report on Thursday, August 27th. JPMorgan Chase & Co. raised shares of Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Tuesday, July 28th. Finally, Wall Street Zen cut shares of Lufax from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 7th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.00.

Lufax Stock Performance

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 firm has a market capitalization of $624.98 million, a price-to-earnings ratio of -1.61 and a beta of 0.80. The stock has a fifty day moving average price of $10.00 and a 200-day moving average price of $16.27.

Lufax (NYSE:LU) last announced its quarterly earnings results on Wednesday, October 28th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of $10.81 by ($11.08). The company had revenue of $921.68 million during the quarter, compared to analyst estimates of $2.22 billion. As a group, analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -1.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lufax

Hedge funds have recently made changes to their positions in the company. Asset Management One Co. Ltd. lifted its holdings in Lufax by 8.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 37,853 shares of the company’s stock valued at $46,000 after purchasing an additional 2,994 shares during the last quarter. StoneX Group Inc. bought a new stake in Lufax during the third quarter worth about $47,000. Engineers Gate Manager LP bought a new stake in Lufax during the second quarter worth about $60,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Lufax during the second quarter worth approximately $157,000. Finally, Ramsey Quantitative Systems acquired a new stake in shares of Lufax during the second quarter worth approximately $199,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

About Lufax

Lufax Holding Ltd. is a China-based financial technology company that provides technology-enabled financial services. Its platform connects individual and small-business borrowers with financial institutions and other funding partners, helping customers access credit and related services. The company also offers wealth management services, including access to investment products for retail customers. Lufax was established in 2011 as part of Ping An Insurance Group and has developed its business around China’s financial services market.