Short Interest in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) Decreases By 34.5%

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) saw a significant decrease in short interest during the month of June. As of June 30th, there was short interest totaling 3,443,617 shares, a decrease of 34.5% from the June 15th total of 5,256,817 shares. Based on an average daily trading volume, of 1,607,645 shares, the days-to-cover ratio is presently 2.1 days. Currently, 2.8% of the company’s shares are sold short.

Hedge Funds Weigh In On LexinFintech

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ariadne Wealth Management LP increased its position in LexinFintech by 50.4% in the 1st quarter. Ariadne Wealth Management LP now owns 24,107 shares of the company’s stock valued at $53,000 after acquiring an additional 8,080 shares during the period. Renaissance Technologies LLC raised its stake in shares of LexinFintech by 6.7% during the first quarter. Renaissance Technologies LLC now owns 1,328,262 shares of the company’s stock worth $2,896,000 after purchasing an additional 83,362 shares during the last quarter. Dimensional Fund Advisors LP grew its position in LexinFintech by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,779,739 shares of the company’s stock valued at $3,873,000 after buying an additional 12,548 shares during the last quarter. California Public Employees Retirement System increased its stake in LexinFintech by 9.0% in the 1st quarter. California Public Employees Retirement System now owns 131,329 shares of the company’s stock valued at $286,000 after buying an additional 10,843 shares during the period. Finally, Principal Financial Group Inc. increased its stake in LexinFintech by 30.5% in the 1st quarter. Principal Financial Group Inc. now owns 3,379,109 shares of the company’s stock valued at $7,366,000 after buying an additional 788,840 shares during the period.

LexinFintech Stock Performance

NASDAQ:LX opened at $1.52 on Friday. LexinFintech has a 52 week low of $1.41 and a 52 week high of $7.99. The company has a fifty day simple moving average of $1.98 and a two-hundred day simple moving average of $2.43. The company has a quick ratio of 2.02, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The company has a market cap of $254.60 million, a price-to-earnings ratio of 1.32 and a beta of 0.82.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of LexinFintech from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Weiss Ratings cut shares of LexinFintech from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.50.

LexinFintech Company Profile

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.