LexinFintech (NASDAQ:LX) Stock Price Down 5.4% – Time to Sell?

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) dropped 5.4% on Thursday . The company traded as low as $1.7150 and last traded at $1.75. 3,251,882 shares were traded during mid-day trading, an increase of 115% from the average daily volume of 1,512,040 shares. The stock had previously closed at $1.85.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of LexinFintech from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.50.

LexinFintech Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.02 and a current ratio of 2.03. The business’s fifty day simple moving average is $2.04 and its 200 day simple moving average is $2.49. The stock has a market cap of $293.12 million, a price-to-earnings ratio of 1.52 and a beta of 0.82.

Institutional Investors Weigh In On LexinFintech

Hedge funds and other institutional investors have recently bought and sold shares of the business. Anatole Investment Management Ltd raised its position in shares of 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 purchasing an additional 2,159,246 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of LexinFintech by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,642,573 shares of the company’s stock worth $24,745,000 after buying an additional 94,490 shares during the last quarter. Man Group plc raised its holdings in LexinFintech by 28.2% in the third quarter. Man Group plc now owns 4,384,533 shares of the company’s stock valued at $23,370,000 after acquiring an additional 964,562 shares in the last quarter. Alliancebernstein L.P. raised its holdings in LexinFintech by 4.1% in the second quarter. Alliancebernstein L.P. now owns 3,865,830 shares of the company’s stock valued at $27,873,000 after acquiring an additional 150,511 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in LexinFintech by 320.4% during the 3rd quarter. Bank of America Corp DE now owns 3,861,508 shares of the company’s stock valued at $20,582,000 after acquiring an additional 2,942,964 shares during the last quarter.

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.