LexinFintech (NASDAQ:LX) Sees Strong Trading Volume – Here’s Why

LexinFintech Holdings Ltd. (NASDAQ:LX) shares saw strong trading volume on Thursday . 4,238,152 shares changed hands during mid-day trading, an increase of 56% from the previous session’s volume of 2,719,645 shares.The stock last traded at $9.07 and had previously closed at $8.72.

Wall Street Analyst Weigh In

Separately, Citigroup raised shares of LexinFintech from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 26th.

LexinFintech Stock Performance

The stock’s 50 day moving average price is $6.90 and its 200 day moving average price is $4.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $1.54 billion, a P/E ratio of 14.86 and a beta of 0.66.

LexinFintech (NASDAQ:LX) last issued its earnings results on Monday, November 25th. The company reported $0.26 earnings per share (EPS) for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

Hedge Funds Weigh In On LexinFintech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of LexinFintech by 25.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,107,663 shares of the company’s stock worth $3,013,000 after acquiring an additional 226,479 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of LexinFintech in the third quarter worth $467,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of LexinFintech in the fourth quarter worth $445,000. Walleye Capital LLC increased its stake in shares of LexinFintech by 235.5% in the third quarter. Walleye Capital LLC now owns 726,588 shares of the company’s stock worth $1,976,000 after buying an additional 510,014 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of LexinFintech during the 3rd quarter valued at $397,000.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.