Lufax Holding Ltd (NYSE:LU) Sees Significant Decline in Short Interest

Lufax Holding Ltd (NYSE:LU) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 6,960,000 shares, a drop of 37.5% from the August 31st total of 11,140,000 shares. Based on an average daily volume of 3,020,000 shares, the short-interest ratio is currently 2.3 days. Approximately 0.8% of the shares of the company are sold short.

Lufax Trading Down 3.2 %

Shares of Lufax stock opened at $2.44 on Thursday. Lufax has a 1-year low of $2.00 and a 1-year high of $4.94. The company’s fifty day simple moving average is $2.52 and its 200-day simple moving average is $3.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $1.40 billion, a PE ratio of -17.43 and a beta of 0.82.

Lufax (NYSE:LU) last released its quarterly earnings results on Wednesday, August 21st. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.26). Lufax had a negative net margin of 8.70% and a negative return on equity of 2.66%. The company had revenue of $822.36 million for the quarter. During the same period in the previous year, the company earned $0.24 earnings per share. As a group, equities analysts anticipate that Lufax will post -0.09 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Bank of America cut their price target on Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a research note on Friday, August 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LU. Baillie Gifford & Co. increased its stake in Lufax by 98.9% in the 1st quarter. Baillie Gifford & Co. now owns 12,089,786 shares of the company’s stock worth $51,019,000 after buying an additional 6,012,562 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Lufax by 5,000.2% during the first quarter. Acadian Asset Management LLC now owns 3,036,225 shares of the company’s stock worth $12,798,000 after purchasing an additional 2,976,693 shares in the last quarter. Yunqi Capital Ltd raised its stake in Lufax by 39.4% during the 1st quarter. Yunqi Capital Ltd now owns 7,092,640 shares of the company’s stock valued at $29,931,000 after purchasing an additional 2,002,873 shares during the period. Caxton Associates LP purchased a new position in Lufax in the 2nd quarter worth approximately $2,152,000. Finally, Nomura Holdings Inc. boosted its stake in Lufax by 2,280.1% in the 4th quarter. Nomura Holdings Inc. now owns 883,009 shares of the company’s stock worth $2,711,000 after purchasing an additional 845,909 shares during the period. 69.14% of the stock is currently owned by institutional investors.

Lufax Company Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.