Lufax (NYSE:LU) Shares Gap Down – What’s Next?

Lufax Holding Ltd (NYSE:LU)’s share price gapped down before the market opened on Monday . The stock had previously closed at $2.89, but opened at $2.55. Lufax shares last traded at $2.62, with a volume of 1,982,673 shares traded.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $3.20 price target on shares of Lufax in a research note on Thursday, October 24th.

Lufax Trading Down 11.6 %

The firm has a market capitalization of $2.21 billion, a PE ratio of -3.32, a price-to-earnings-growth ratio of 0.99 and a beta of 0.84. The business has a 50-day moving average of $2.48 and a 200 day moving average of $2.65.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in shares of 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 buying an additional 8,446 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in 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 purchasing an additional 9,400 shares during the last quarter. EWA LLC purchased a new stake in Lufax during the third quarter valued at about $45,000. JPMorgan Chase & Co. boosted its position in Lufax by 27.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,235 shares of the company’s stock valued at $221,000 after buying an additional 13,630 shares during the period. Finally, Soltis Investment Advisors LLC purchased a new position in shares of Lufax in the third quarter valued at about $52,000. 69.14% of the stock is owned by institutional investors.

About Lufax

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.