Lufax (NYSE:LU) Shares Gap Up to $3.38

Lufax Holding Ltd (NYSE:LU) gapped up prior to trading on Monday . The stock had previously closed at $3.38, but opened at $3.75. Lufax shares last traded at $3.65, with a volume of 2,645,297 shares trading hands.

Wall Street Analyst Weigh In

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

Lufax Stock Up 3.6 %

The firm’s fifty day simple moving average is $2.54 and its 200 day simple moving average 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. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -25.86 and a beta of 0.82.

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

Institutional Investors Weigh In On Lufax

Several institutional investors have recently made changes to their positions in LU. Russell Investments Group Ltd. purchased a new position in shares of Lufax in the first quarter valued at $2,649,000. Caxton Associates LP acquired a new position in shares of Lufax in the 2nd quarter valued at $2,152,000. Nomura Holdings Inc. grew its stake 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 valued at $2,711,000 after buying an additional 845,909 shares during the period. Acadian Asset Management LLC increased its stake in 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 acquiring an additional 2,976,693 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in shares of 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 purchasing an additional 6,012,562 shares during the period. 69.14% of the stock is currently owned by hedge funds and other 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.