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

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $1.19 and last traded at $1.1850, with a volume of 299404 shares. The stock had previously closed at $1.20.

Wall Street Analysts Forecast Growth

LU has been the topic of several research reports. JPMorgan Chase & Co. raised Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price on the stock in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. Wall Street Zen cut shares of Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Deutsche Bank Aktiengesellschaft set a $1.40 price objective on shares of Lufax and gave the stock a “hold” rating in a report on Thursday, August 27th. Finally, Zacks Research cut shares of Lufax from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $1.70.

Lufax Trading Down 1.2%

The stock has a 50 day moving average of $1.38 and a 200-day moving average of $1.65. The company has a market capitalization of $1.03 billion, a P/E ratio of -1.94 and a beta of 0.76. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08.

Lufax (NYSE:LU) last released its earnings results on Friday, August 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($1.12). The business had revenue of $916.61 million for the quarter, compared to the consensus estimate of $2.22 billion. On average, research analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current year.

Institutional Investors Weigh In On Lufax

A number of institutional investors have recently bought and sold shares of LU. Engineers Gate Manager LP bought a new position in shares of Lufax in the second quarter worth about $60,000. Public Employees Retirement System of Ohio bought a new stake in Lufax during the 2nd quarter valued at approximately $157,000. Ramsey Quantitative Systems bought a new stake in Lufax during the 2nd quarter valued at approximately $199,000. Barometer Capital Management Inc. lifted its holdings in Lufax by 7,538.6% in the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock worth $1,000,000 after purchasing an additional 527,700 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Lufax by 2.4% in the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock worth $615,000 after purchasing an additional 7,608 shares in the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About Lufax

Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates an online platform connecting borrowers, lenders and wealth-management customers. The company primarily serves small business owners, self-employed individuals and retail investors through digital financial products and services.

Lufax’s business includes consumer and small-business lending, wealth-management services and related technology solutions. Its platform uses data analytics, risk-management tools and digital processes to support loan origination, servicing and investment transactions.