Lufax (NYSE:LU) Sets New 52-Week Low – Here’s What Happened

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s share price reached a new 52-week low on Tuesday. The company traded as low as $7.66 and last traded at $7.7950, with a volume of 28,845 shares. The stock had previously closed at $7.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Deutsche Bank set a $14.00 price objective on Lufax and gave the stock a “hold” rating in a research report on Thursday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a research report on Wednesday. Zacks Research upgraded Lufax from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Wall Street Zen cut Lufax from a “sell” rating to a “strong sell” rating in a report on Saturday, November 7th. Finally, JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 price target for the company in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.00.

Lufax Stock Performance

The stock has a market cap of $612.49 million, a PE ratio of -1.58 and a beta of 0.80. The company has a fifty day moving average price of $10.21 and a 200 day moving average price of $16.47. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.08.

Lufax (NYSE:LU) last issued its earnings results on Wednesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $10.81 by ($11.08). The firm had revenue of $921.68 million for the quarter, compared to analysts’ expectations of $2.22 billion. Analysts expect that Lufax Holding Ltd. Sponsored ADR will post -1.44 earnings per share for the current year.

Institutional Investors Weigh In On Lufax

Several hedge funds have recently added to or reduced their stakes in LU. StoneX Group Inc. purchased a new stake in Lufax during the 3rd quarter valued at about $47,000. Asset Management One Co. Ltd. lifted its stake in shares of Lufax by 8.6% in the third quarter. Asset Management One Co. Ltd. now owns 37,853 shares of the company’s stock worth $46,000 after buying an additional 2,994 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Lufax during the second quarter valued at approximately $60,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Lufax during the second quarter valued at approximately $157,000. Finally, Ramsey Quantitative Systems bought a new stake in shares of Lufax during the second quarter valued at approximately $199,000. 69.14% of the stock is owned by institutional investors.

Lufax Company Profile

Lufax Holding Ltd. is a China-based financial technology company that provides technology-enabled financial services. Its platform connects individual and small-business borrowers with financial institutions and other funding partners, helping customers access credit and related services. The company also offers wealth management services, including access to investment products for retail customers. Lufax was established in 2011 as part of Ping An Insurance Group and has developed its business around China’s financial services market.