LexinFintech (NASDAQ:LX) Shares Down 1.5% – What’s Next?

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)’s share price was down 1.5% during trading on Tuesday . The company traded as low as $1.33 and last traded at $1.34. Approximately 1,180,002 shares changed hands during trading, a decline of 35% from the average daily volume of 1,802,281 shares. The stock had previously closed at $1.36.

Analyst Ratings Changes

A number of equities analysts have weighed in on LX shares. Wall Street Zen lowered LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings lowered LexinFintech from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $3.50.

LexinFintech Stock Down 1.5%

The firm’s fifty day simple moving average is $1.69 and its two-hundred day simple moving average is $2.16. The company has a current ratio of 2.03, a quick ratio of 2.02 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $224.45 million, a price-to-earnings ratio of 1.17 and a beta of 0.88.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LX. State Street Corp increased its stake in LexinFintech by 0.3% during the fourth quarter. State Street Corp now owns 1,126,561 shares of the company’s stock worth $3,684,000 after acquiring an additional 3,666 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in LexinFintech by 150.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,601 shares of the company’s stock valued at $31,000 after purchasing an additional 5,773 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of LexinFintech by 350.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock valued at $72,000 after purchasing an additional 7,756 shares during the last quarter. Ariadne Wealth Management LP lifted its stake in shares of LexinFintech by 50.4% in the 1st quarter. Ariadne Wealth Management LP now owns 24,107 shares of the company’s stock valued at $53,000 after purchasing an additional 8,080 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of LexinFintech by 9.0% during the 1st quarter. California Public Employees Retirement System now owns 131,329 shares of the company’s stock worth $286,000 after purchasing an additional 10,843 shares during the period.

About LexinFintech

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.