Short Interest in Lufax Holding Ltd (NYSE:LU) Increases By 19.8%

Lufax Holding Ltd (NYSE:LU) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 9,540,000 shares, a growth of 19.8% from the January 15th total of 7,960,000 shares. Based on an average daily volume of 3,180,000 shares, the short-interest ratio is currently 3.0 days. Currently, 1.1% of the shares of the company are sold short.

Lufax Stock Performance

LU stock traded up $0.15 during mid-day trading on Monday, reaching $2.89. The company had a trading volume of 5,665,314 shares, compared to its average volume of 3,205,443. Lufax has a fifty-two week low of $2.00 and a fifty-two week high of $4.94. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -3.75 and a beta of 0.84. The firm has a fifty day simple moving average of $2.50 and a 200 day simple moving average of $2.62.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “hold” rating and set a $3.20 target price on shares of Lufax in a research report on Thursday, October 24th.

Hedge Funds Weigh In On Lufax

Several hedge funds have recently added to or reduced their stakes in LU. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Lufax by 102.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,600 shares of the company’s stock valued at $40,000 after acquiring an additional 8,382 shares during the period. Pictet Asset Management Holding SA grew its position in Lufax by 230.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 17,282 shares of the company’s stock worth $41,000 after purchasing an additional 12,048 shares during the last quarter. EWA LLC acquired a new position in Lufax in the third quarter valued at $45,000. Corient Private Wealth LLC raised its holdings in shares of Lufax by 43.6% in the fourth quarter. Corient Private Wealth LLC now owns 21,218 shares of the company’s stock valued at $51,000 after buying an additional 6,445 shares during the last quarter. Finally, Soltis Investment Advisors LLC acquired a new stake in shares of Lufax during the third quarter worth about $52,000. 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.