LexinFintech (NASDAQ:LX) Sets New 12-Month Low – What’s Next?

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)’s share price hit a new 52-week low on Monday . The company traded as low as $2.94 and last traded at $2.9950, with a volume of 473422 shares traded. The stock had previously closed at $2.99.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of LexinFintech in a research note on Monday, December 29th. UBS Group cut 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. Finally, Wall Street Zen lowered LexinFintech from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, LexinFintech currently has an average rating of “Hold” and an average target price of $3.50.

LexinFintech Trading Down 0.7%

The company has a fifty day moving average of $3.27 and a 200-day moving average of $4.89. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $499.73 million, a price-to-earnings ratio of 2.09 and a beta of 0.71.

Institutional Trading of LexinFintech

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of LexinFintech by 38.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,105,130 shares of the company’s stock worth $15,178,000 after purchasing an additional 585,739 shares during the period. Nomura Holdings Inc. lifted its position in LexinFintech by 107.6% in the second quarter. Nomura Holdings Inc. now owns 1,057,883 shares of the company’s stock valued at $7,627,000 after buying an additional 548,371 shares during the last quarter. Acadian Asset Management LLC boosted its stake in LexinFintech by 4.6% during the second quarter. Acadian Asset Management LLC now owns 4,884,131 shares of the company’s stock worth $35,192,000 after buying an additional 214,800 shares during the period. Brilliance Asset Management Ltd. acquired a new stake in shares of LexinFintech during the second quarter valued at about $4,709,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of LexinFintech in the 2nd quarter valued at approximately $2,490,000.

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.