LexinFintech (NASDAQ:LX) Sees Strong Trading Volume – Time to Buy?

LexinFintech Holdings Ltd. (NASDAQ:LX) shares saw strong trading volume on Friday . 463,225 shares were traded during mid-day trading, a decline of 53% from the previous session’s volume of 994,924 shares.The stock last traded at $5.97 and had previously closed at $5.77.

Analyst Ratings Changes

Separately, Citigroup raised LexinFintech from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 26th.

LexinFintech Stock Up 5.7 %

The firm’s fifty day simple moving average is $4.72 and its 200 day simple moving average is $2.97. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 9.68 and a beta of 0.63.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LX. Wolverine Trading LLC acquired a new position in shares of LexinFintech in the 3rd quarter valued at $29,000. Centiva Capital LP purchased a new stake in LexinFintech in the third quarter valued at $41,000. Kathmere Capital Management LLC acquired a new position in LexinFintech in the second quarter valued at $36,000. Virtu Financial LLC purchased a new position in shares of LexinFintech during the third quarter worth about $74,000. Finally, SG Americas Securities LLC acquired a new stake in shares of LexinFintech during the third quarter worth about $122,000.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.