Lufax (NYSE:LU) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Lufax (NYSE:LU) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Lufax Trading Down 4.6%

NYSE LU opened at $2.82 on Friday. The firm’s 50 day simple moving average is $2.70 and its 200 day simple moving average is $2.93. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of -3.66 and a beta of 0.63. Lufax has a 1 year low of $2.30 and a 1 year high of $4.57.

Lufax (NYSE:LU) last released its earnings results on Tuesday, February 17th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.19). The business had revenue of $724.89 million during the quarter, compared to analysts’ expectations of $761.36 million. On average, equities research analysts forecast that Lufax will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Lufax in the 2nd quarter valued at approximately $28,000. May Hill Capital LLC bought a new position in Lufax in the 2nd quarter valued at approximately $34,000. Scientech Research LLC acquired a new stake in Lufax in the third quarter valued at approximately $46,000. Hudson Bay Capital Management LP bought a new stake in shares of Lufax during the second quarter worth $58,000. Finally, Headlands Technologies LLC grew its stake in shares of Lufax by 245.1% during the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after buying an additional 19,126 shares during the last quarter. Institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.