Zacks Research Downgrades Lufax (NYSE:LU) to Strong Sell

Lufax (NYSE:LU) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also commented on LU. JPMorgan Chase & Co. raised Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 price target for the company in a report on Tuesday. Wall Street Zen upgraded Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a report on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $2.00.

Lufax Trading Down 0.9%

Lufax stock opened at $1.57 on Thursday. Lufax has a 1-year low of $1.20 and a 1-year high of $4.57. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -2.02 and a beta of 0.79. The firm has a 50 day simple moving average of $1.41 and a 200 day simple moving average of $1.97.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Fulton Bank N.A. purchased a new stake in shares of Lufax in the first quarter worth $27,000. Scientech Research LLC bought a new position in Lufax in the 3rd quarter worth about $46,000. Hudson Bay Capital Management LP bought a new position in Lufax in the 2nd quarter worth about $58,000. Headlands Technologies LLC raised its holdings in shares of Lufax by 245.1% in the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock valued at $75,000 after acquiring an additional 19,126 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Lufax in the 4th quarter valued at about $96,000. 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.