Lufax (NYSE:LU) Sees Unusually-High Trading Volume – Still a Buy?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) saw unusually-strong trading volume on Thursday . Approximately 1,072,871 shares were traded during mid-day trading, a decline of 25% from the previous session’s volume of 1,421,436 shares.The stock last traded at $1.5150 and had previously closed at $1.56.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LU. Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a research report on Monday, May 18th. JPMorgan Chase & Co. began coverage on shares of Lufax in a report on Friday, April 17th. They set a “neutral” rating and a $2.00 price objective for the company. Wall Street Zen raised shares of Lufax from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research raised shares of Lufax to a “hold” rating in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $2.00.

Lufax Price Performance

The stock’s 50 day simple moving average is $1.84 and its two-hundred day simple moving average is $2.33. The stock has a market cap of $1.33 billion, a P/E ratio of -1.97 and a beta of 0.76.

Lufax (NYSE:LU) last posted its 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, analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Lufax

Several hedge funds have recently added to or reduced their stakes in the stock. Amundi lifted its position in shares of Lufax by 76.8% during the 1st quarter. Amundi now owns 97,223 shares of the company’s stock valued at $282,000 after buying an additional 42,236 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Lufax by 32.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 604,823 shares of the company’s stock valued at $1,796,000 after acquiring an additional 148,724 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Lufax by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,343,505 shares of the company’s stock worth $3,990,000 after acquiring an additional 8,236 shares in the last quarter. Geode Capital Management LLC raised its stake in Lufax by 3.9% in the second quarter. Geode Capital Management LLC now owns 143,238 shares of the company’s stock valued at $400,000 after purchasing an additional 5,417 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Lufax by 74.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 110,024 shares of the company’s stock worth $307,000 after acquiring an additional 47,001 shares during the last quarter. Institutional investors own 69.14% of the company’s stock.

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.