LexinFintech (NASDAQ:LX) Hits New 52-Week High – Should You Buy?

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $6.28 and last traded at $6.23, with a volume of 1601402 shares changing hands. The stock had previously closed at $6.04.

Wall Street Analysts Forecast Growth

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

LexinFintech Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market capitalization of $1.01 billion, a PE ratio of 9.78 and a beta of 0.68. The business’s 50-day moving average is $4.45 and its two-hundred day moving average is $2.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of LexinFintech by 25.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,107,663 shares of the company’s stock valued at $3,013,000 after purchasing an additional 226,479 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of LexinFintech in the 3rd quarter worth approximately $467,000. Walleye Capital LLC increased its stake in LexinFintech by 235.5% in the 3rd quarter. Walleye Capital LLC now owns 726,588 shares of the company’s stock valued at $1,976,000 after purchasing an additional 510,014 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in LexinFintech during the third quarter worth $397,000. Finally, American Century Companies Inc. grew its holdings in LexinFintech by 33.2% in the second quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock valued at $501,000 after purchasing an additional 75,759 shares during the last quarter.

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.