Lufax (NYSE:LU) Trading Down 4.5% – What’s Next?

Shares of Lufax Holding Ltd (NYSE:LU) fell 4.5% during trading on Monday . The company traded as low as $2.32 and last traded at $2.34. 1,723,125 shares were traded during mid-day trading, a decline of 57% from the average session volume of 3,962,480 shares. The stock had previously closed at $2.45.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LU. Bank of America lowered their price objective on Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $3.20 price target on shares of Lufax in a report on Thursday, October 24th.

Lufax Trading Down 3.7 %

The firm has a market capitalization of $2.05 billion, a P/E ratio of -3.18 and a beta of 0.90. The company’s fifty day simple moving average is $2.87 and its 200 day simple moving average is $2.81.

Lufax (NYSE:LU) last released its earnings results on Monday, October 21st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). Lufax had a negative return on equity of 3.63% and a negative net margin of 12.75%. The company had revenue of $789.93 million during the quarter. During the same quarter in the prior year, the company posted $0.04 earnings per share. On average, analysts predict that Lufax Holding Ltd will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lufax

Institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in Lufax by 14.8% during the 3rd quarter. Franklin Resources Inc. now owns 65,584 shares of the company’s stock valued at $226,000 after purchasing an additional 8,446 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Lufax by 14.7% in the third quarter. Daiwa Securities Group Inc. now owns 73,275 shares of the company’s stock worth $256,000 after buying an additional 9,400 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of Lufax during the second quarter worth $26,000. EWA LLC bought a new stake in Lufax in the 3rd quarter valued at $45,000. Finally, Soltis Investment Advisors LLC purchased a new stake in Lufax in the 3rd quarter worth $52,000. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

Lufax Company Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.