Lufax (NYSE:LU) Hits New 52-Week Low – Time to Sell?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $1.4750 and last traded at $1.4850, with a volume of 800355 shares changing hands. The stock had previously closed at $1.55.

Wall Street Analysts Forecast Growth

LU has been the subject of a number of research analyst reports. Wall Street Zen raised Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. initiated coverage on Lufax in a research note on Friday, April 17th. They issued a “neutral” rating and a $2.00 target price for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research note on Monday, May 18th. Finally, Zacks Research upgraded Lufax to a “hold” rating in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $2.00.

Lufax Stock Down 6.8%

The company has a market capitalization of $1.25 billion, a P/E ratio of -1.85 and a beta of 0.76. The business has a fifty day moving average price of $1.83 and a 200 day moving average price of $2.32.

Lufax (NYSE:LU) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($1.19) EPS for the quarter. The firm had revenue of $724.89 million during the quarter. As a group, equities analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -0.02 earnings per share for the current year.

Institutional Trading of Lufax

A number of institutional investors have recently modified their holdings of LU. Scientech Research LLC bought a new stake in Lufax during the third quarter worth about $46,000. Fulton Bank N.A. bought a new stake in Lufax during the first quarter worth about $27,000. Hudson Bay Capital Management LP bought a new stake in Lufax during the second quarter worth about $58,000. Headlands Technologies LLC raised its holdings in Lufax by 245.1% during the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after acquiring an additional 19,126 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in Lufax by 26.1% during the third quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock worth $129,000 after acquiring an additional 6,565 shares in the last quarter. 69.14% of the stock is currently owned by institutional investors.

Lufax Company Profile

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.