Lufax (NYSE:LU) Shares Gap Down to $4.15

Lufax Holding Ltd (NYSE:LU) shares gapped down before the market opened on Thursday . The stock had previously closed at $4.15, but opened at $3.90. Lufax shares last traded at $4.05, with a volume of 1,235,790 shares traded.

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 report on Friday, August 23rd.

Lufax Price Performance

The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -27.79 and a beta of 0.85. The stock’s 50-day simple moving average is $2.59 and its 200 day simple moving average is $3.27.

Lufax (NYSE:LU) last released its earnings results 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). The firm 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 period in the prior year, the company posted $0.24 earnings per share. On average, equities research analysts anticipate that Lufax Holding Ltd will post -0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Lufax

Hedge funds have recently bought and sold shares of the stock. Panagora Asset Management Inc. acquired a new stake in shares of Lufax in the 2nd quarter valued at $26,000. Sequoia Financial Advisors LLC purchased a new position in Lufax during the 1st quarter worth $60,000. SIH Partners LLLP acquired a new position in Lufax in the 2nd quarter valued at about $65,000. PDS Planning Inc acquired a new position in shares of Lufax in the first quarter valued at approximately $78,000. Finally, Simplicity Wealth LLC purchased a new position in Lufax during the 2nd quarter worth $79,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

About Lufax

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.