Lufax (NYSE:LU) Reaches New 52-Week Low – Should You Sell?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.20 and last traded at $1.26, with a volume of 2477679 shares. The stock had previously closed at $1.25.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a report on Monday, May 18th. Wall Street Zen raised Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research upgraded Lufax to a “hold” rating in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. began coverage on Lufax in a research report on Friday, April 17th. They set a “neutral” rating and a $2.00 price objective for the company. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $2.00.

Lufax Price Performance

The business has a 50 day simple moving average of $1.70 and a 200 day simple moving average of $2.22. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -1.62 and a beta of 0.76.

Lufax (NYSE:LU) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.19). The company had revenue of $724.89 million during the quarter, compared to analysts’ expectations of $761.36 million. On average, equities research analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LU. Scientech Research LLC purchased a new stake in Lufax during the 3rd quarter worth approximately $46,000. Fulton Bank N.A. purchased a new position in Lufax in the 1st quarter valued at approximately $27,000. Hudson Bay Capital Management LP acquired a new position in shares of Lufax in the second quarter worth $58,000. Headlands Technologies LLC grew its stake in shares of Lufax by 245.1% in the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after acquiring an additional 19,126 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Lufax during the fourth quarter worth $96,000. Hedge funds and other 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.