Lufax (NYSE:LU) Stock Price Up 7.9% – What’s Next?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s stock price rose 7.9% during mid-day trading on Tuesday . The stock traded as high as $1.5550 and last traded at $1.5650. Approximately 589,371 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 1,306,959 shares. The stock had previously closed at $1.45.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Zacks Research cut shares of Lufax from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised shares of Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price on the stock in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of Lufax from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research note on Thursday. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $2.00.

Lufax Price Performance

The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -2.01 and a beta of 0.80. The company has a fifty day moving average price of $1.40 and a two-hundred day moving average price of $1.88.

Institutional Trading of Lufax

A number of hedge funds and other institutional investors have recently made changes to their positions in LU. Barometer Capital Management Inc. grew its position in Lufax by 7,538.6% in the first quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock worth $1,000,000 after buying an additional 527,700 shares during the last quarter. Alpine Investment Management Ltd lifted its position in shares of Lufax by 91.9% during the 4th quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company’s stock valued at $20,753,000 after acquiring an additional 3,881,500 shares during the last quarter. Fulton Bank N.A. acquired a new stake in shares of Lufax during the 1st quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Lufax by 33.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 79,727 shares of the company’s stock worth $214,000 after acquiring an additional 19,885 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Lufax during the 3rd quarter worth $167,000. 69.14% of the stock is currently owned by institutional investors.

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.