Lufax (NYSE:LU) Sees Strong Trading Volume – Time to Buy?

Shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) saw strong trading volume on Wednesday. Approximately 304,975 shares were traded during trading, an increase of 115% from the average daily volume of 142,091 shares. The stock last traded at $8.3350 and had previously closed at $8.16.

Analyst Ratings Changes

LU has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft set a $14.00 price objective on shares of Lufax and gave the stock a “hold” rating in a research note on Thursday, August 27th. Wall Street Zen downgraded Lufax from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. JPMorgan Chase & Co. raised shares of Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Tuesday, July 28th. Finally, Zacks Research raised Lufax from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Lufax currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Lufax Stock Up 2.0%

The business’s 50 day moving average price is $10.77 and its 200-day moving average price is $17.02. The firm has a market capitalization of $721.53 million, a PE ratio of -1.37 and a beta of 0.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.69 and a current ratio of 1.69.

Lufax (NYSE:LU) last announced its earnings results on Tuesday, October 27th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $10.81 by ($11.08). The company had revenue of $921.68 million during the quarter, compared to the consensus estimate of $2.22 billion. As a group, equities research analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -1.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LU. Barometer Capital Management Inc. increased its position in Lufax by 7,538.6% during the first quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock worth $1,000,000 after buying an additional 527,700 shares during the period. California Public Employees Retirement System lifted its stake in Lufax by 2.4% in the first quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after buying an additional 7,608 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Lufax by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock valued at $595,000 after acquiring an additional 14,224 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Lufax by 2.8% in the first quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after acquiring an additional 6,600 shares during the period. Finally, Ramsey Quantitative Systems acquired a new stake in shares of Lufax in the second quarter valued at approximately $199,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates digital platforms for retail and small-business finance. The company connects consumers and small-business owners with financial products and services through online channels and technology-enabled processes.

Lufax’s business has historically included retail lending, wealth management and related financial services. Its platforms have provided access to consumer and small-business loans, investment products and other services offered in cooperation with financial institutions.