Lufax (NYSE:LU) Reaches New 12-Month Low – Time to Sell?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $1.29 and last traded at $1.2850, with a volume of 729225 shares trading hands. The stock had previously closed at $1.35.

Analysts Set New Price Targets

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

Lufax Stock Up 0.4%

The firm has a market capitalization of $1.09 billion, a P/E ratio of -1.61 and a beta of 0.76. The company’s 50 day moving average is $1.72 and its 200-day moving average is $2.24.

Lufax (NYSE:LU) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.19). The firm had revenue of $724.89 million for the quarter, compared to analysts’ expectations of $761.36 million. On average, analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in Lufax by 2.8% in the first quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock worth $461,000 after acquiring an additional 6,600 shares in the last quarter. Barometer Capital Management Inc. increased its holdings in shares of Lufax by 7,538.6% during the first quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock valued at $1,000,000 after acquiring an additional 527,700 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Lufax by 2.4% during the first quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after acquiring an additional 7,608 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Lufax by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock worth $595,000 after purchasing an additional 14,224 shares during the period. Finally, Fulton Bank N.A. acquired a new position in shares of Lufax during the first quarter worth approximately $27,000. 69.14% of the stock is owned by institutional investors and hedge funds.

About Lufax

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.