Lufax (NYSE:LU) Sees Large Volume Increase – Time to Buy?

Shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) saw an uptick in trading volume on Tuesday . 1,672,082 shares were traded during mid-day trading, an increase of 10% from the previous session’s volume of 1,521,928 shares.The stock last traded at $1.7950 and had previously closed at $1.88.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Lufax from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, Lufax has an average rating of “Sell”.

Lufax Stock Performance

The stock has a market cap of $1.68 billion, a PE ratio of -2.48 and a beta of 0.64. The firm has a fifty day moving average price of $2.56 and a 200 day moving average price of $2.83.

Lufax (NYSE:LU) last announced its earnings results on Tuesday, February 17th. The company reported ($1.19) earnings per share for the quarter. The company had revenue of $724.89 million during the quarter. On average, equities research analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On Lufax

Several hedge funds have recently modified their holdings of LU. Scientech Research LLC acquired a new stake in Lufax in the 3rd quarter worth approximately $46,000. Hudson Bay Capital Management LP acquired a new position in Lufax during the 2nd quarter valued at approximately $58,000. Headlands Technologies LLC raised its holdings 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 buying an additional 19,126 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of Lufax by 26.1% during the third quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock worth $129,000 after buying an additional 6,565 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Lufax during the fourth quarter worth $96,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

About Lufax

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.