Lufax (NYSE:LU) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Lufax (NYSE:LU) from a sell rating to a strong sell rating in a research report released on Saturday,Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Tuesday, July 28th. Zacks Research upgraded Lufax from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Deutsche Bank Aktiengesellschaft set a $14.00 price objective on Lufax and gave the stock a “hold” rating in a report on Thursday, August 27th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.00.

Lufax Stock Up 8.5%

NYSE:LU opened at $9.37 on Friday. The stock’s fifty day moving average price is $10.51 and its two-hundred day moving average price is $16.76. Lufax has a 52-week low of $7.70 and a 52-week high of $32.10. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.69 and a current ratio of 1.69. The company has a market cap of $811.66 million, a price-to-earnings ratio of -1.54 and a beta of 0.80.

Lufax (NYSE:LU) last announced its quarterly earnings data on Wednesday, October 28th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $10.81 by ($11.08). The business had revenue of $921.68 million during the quarter, compared to analysts’ expectations of $2.22 billion. On average, analysts anticipate that Lufax will post -1.44 EPS for the current year.

Institutional Trading of Lufax

Several institutional investors and hedge funds have recently made changes to their positions in the business. StoneX Group Inc. acquired a new stake in shares of Lufax during the third quarter worth $47,000. Asset Management One Co. Ltd. increased its holdings in Lufax by 8.6% in the third quarter. Asset Management One Co. Ltd. now owns 37,853 shares of the company’s stock valued at $46,000 after purchasing an additional 2,994 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Lufax in the second quarter valued at about $60,000. Public Employees Retirement System of Ohio acquired a new position in Lufax in the second quarter valued at about $157,000. Finally, Ramsey Quantitative Systems acquired a new position in Lufax in the second quarter valued at about $199,000. 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 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.