Lufax (NYSE:LU) Trading Up 14%

Lufax Holding Ltd (NYSE:LU)’s share price was up 14% on Thursday . The stock traded as high as $2.79 and last traded at $2.77. Approximately 2,495,563 shares were traded during trading, a decline of 39% from the average daily volume of 4,089,042 shares. The stock had previously closed at $2.43.

Analyst Ratings Changes

Separately, Bank of America lowered their price objective on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, August 23rd.

Lufax Stock Up 14.4 %

The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -19.64 and a beta of 0.82. The firm’s 50 day moving average price is $2.52 and its two-hundred day moving average price is $3.25. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.08.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in shares of Lufax during the 1st quarter worth approximately $2,649,000. Nomura Holdings Inc. grew its position in shares of Lufax by 2,280.1% during 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 in the last quarter. Acadian Asset Management LLC grew its position in shares of Lufax by 5,000.2% during the 1st 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. Baillie Gifford & Co. grew its position in shares of Lufax by 98.9% during the 1st quarter. Baillie Gifford & Co. now owns 12,089,786 shares of the company’s stock worth $51,019,000 after purchasing an additional 6,012,562 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Lufax during the 1st quarter worth approximately $797,000. 69.14% of the stock is 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.