Lufax (NYSE:LU) Sees Strong Trading Volume – What’s Next?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) shares saw unusually-high trading volume on Thursday . Approximately 1,072,871 shares changed hands during mid-day trading, a decline of 25% from the previous session’s volume of 1,421,436 shares.The stock last traded at $1.5150 and had previously closed at $1.56.

Analyst Upgrades and Downgrades

LU has been the topic of several recent research reports. Wall Street Zen raised Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research raised Lufax to a “hold” rating in a research note on Tuesday, April 21st. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. initiated coverage on Lufax in a research note on Friday, April 17th. They issued a “neutral” rating and a $2.00 price target on the stock. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $2.00.

Lufax Trading Down 6.8%

The company has a 50 day simple moving average of $1.83 and a 200-day simple moving average of $2.32. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -1.85 and a beta of 0.76.

Lufax (NYSE:LU) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($1.19) earnings per share (EPS) for the quarter. The business had revenue of $724.89 million during the quarter. Equities analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Lufax

Hedge funds and other institutional investors have recently modified their holdings of the stock. Scientech Research LLC acquired a new stake in shares of Lufax in the third quarter valued at about $46,000. Fulton Bank N.A. acquired a new stake in shares of Lufax in the first quarter valued at about $27,000. Hudson Bay Capital Management LP acquired a new stake in shares of Lufax in the second quarter valued at about $58,000. Headlands Technologies LLC increased its position in shares of Lufax by 245.1% in the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock valued at $75,000 after acquiring an additional 19,126 shares during the last quarter. Finally, Profund Advisors LLC increased its position in shares of Lufax by 26.1% in the third quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock valued at $129,000 after acquiring an additional 6,565 shares during the last quarter. 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.