LexinFintech (NASDAQ:LX) Shares Up 9.5% – Time to Buy?

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) shares traded up 9.5% during trading on Tuesday . The stock traded as high as $3.01 and last traded at $3.0230. 1,078,013 shares traded hands during trading, a decline of 33% from the average session volume of 1,599,529 shares. The stock had previously closed at $2.76.

Analyst Upgrades and Downgrades

LX has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of LexinFintech in a report on Monday, December 29th. Wall Street Zen cut shares of LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, UBS Group downgraded shares of LexinFintech from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.60 to $3.50 in a report on Thursday, December 4th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.50.

LexinFintech Stock Up 1.3%

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market capitalization of $509.83 million, a PE ratio of 2.13 and a beta of 0.74. The business’s 50 day simple moving average is $3.06 and its 200 day simple moving average is $4.40.

Institutional Investors Weigh In On LexinFintech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LX. XTX Topco Ltd lifted its stake in shares of LexinFintech by 79.3% in the 4th quarter. XTX Topco Ltd now owns 141,959 shares of the company’s stock valued at $464,000 after purchasing an additional 62,805 shares during the last quarter. Oxford Asset Management LLP acquired a new stake in shares of LexinFintech during the 4th quarter worth about $184,000. Anatole Investment Management Ltd raised its holdings in LexinFintech by 79.6% in the 4th quarter. Anatole Investment Management Ltd now owns 4,870,383 shares of the company’s stock valued at $15,926,000 after buying an additional 2,159,246 shares during the period. BTG Pactual Asset Management US LLC acquired a new position in LexinFintech in the fourth quarter valued at about $102,000. Finally, Barclays PLC boosted its stake in LexinFintech by 532.9% during the fourth quarter. Barclays PLC now owns 1,435,075 shares of the company’s stock worth $4,693,000 after buying an additional 1,208,321 shares during the period.

About LexinFintech

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.