LexinFintech (NASDAQ:LX) Trading Up 9.5% – Should You Buy?

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)’s stock price was up 9.5% on Tuesday . The stock traded as high as $3.01 and last traded at $3.0230. Approximately 1,078,013 shares changed hands during trading, a decline of 33% from the average daily volume of 1,599,529 shares. The stock had previously closed at $2.76.

Analysts Set New Price Targets

A number of research analysts have weighed in on LX shares. UBS Group cut shares of LexinFintech from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.60 to $3.50 in a research report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of LexinFintech in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.50.

LexinFintech Trading Up 8.7%

The stock has a market capitalization of $504.78 million, a P/E ratio of 2.11 and a beta of 0.74. The stock’s fifty day moving average price is $3.08 and its 200 day moving average price is $4.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.80 and a quick ratio of 1.80.

Institutional Trading of LexinFintech

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC grew its stake in LexinFintech by 4.6% in the second quarter. Acadian Asset Management LLC now owns 4,884,131 shares of the company’s stock worth $35,192,000 after purchasing an additional 214,800 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of LexinFintech by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,642,573 shares of the company’s stock worth $24,745,000 after buying an additional 94,490 shares during the period. Man Group plc grew its position in shares of LexinFintech by 28.2% during the 3rd quarter. Man Group plc now owns 4,384,533 shares of the company’s stock worth $23,370,000 after buying an additional 964,562 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of LexinFintech by 4.1% during the 2nd quarter. Alliancebernstein L.P. now owns 3,865,830 shares of the company’s stock worth $27,873,000 after buying an additional 150,511 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of LexinFintech by 320.4% during the third quarter. Bank of America Corp DE now owns 3,861,508 shares of the company’s stock valued at $20,582,000 after buying an additional 2,942,964 shares during the period.

LexinFintech Company Profile

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.