Lufax (NYSE:LU) Reaches New 52-Week Low – Should You Sell?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) shares reached a new 52-week low during trading on Tuesday. The company traded as low as $0.8415 and last traded at $0.8710, with a volume of 1,447,762 shares changing hands. The stock had previously closed at $0.8682.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $1.40 price objective on Lufax and gave the stock a “hold” rating in a research report on Thursday, August 27th. Zacks Research raised Lufax from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price on the stock in a research report on Tuesday, July 28th. Finally, Wall Street Zen lowered Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $1.70.

Lufax Trading Up 0.3%

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72. The company has a market cap of $754.89 million, a PE ratio of -1.43 and a beta of 0.69. The company’s 50 day simple moving average is $1.22 and its two-hundred day simple moving average is $1.47.

Lufax shares are set to reverse split on the morning of Friday, October 23rd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, October 22nd.

Lufax (NYSE:LU) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($1.12). The business had revenue of $916.61 million for the quarter, compared to analyst estimates of $2.22 billion. As a group, sell-side analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Lufax

Hedge funds have recently made changes to their positions in the stock. Barometer Capital Management Inc. increased its holdings in Lufax by 7,538.6% in the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock valued at $1,000,000 after purchasing an additional 527,700 shares during the last quarter. California Public Employees Retirement System raised its position in Lufax by 2.4% in the first quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after purchasing an additional 7,608 shares during the period. Bank of New York Mellon Corp raised its position in Lufax by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock valued at $595,000 after purchasing an additional 14,224 shares during the period. Public Employees Retirement System of Ohio raised its position in Lufax by 2.8% in the first quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after purchasing an additional 6,600 shares during the period. Finally, Ramsey Quantitative Systems acquired a new position in Lufax during the second quarter worth $199,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About Lufax

Lufax Holding Ltd. (NYSE: LU) is a China-based financial technology company that provides technology-enabled retail and small-business financial services. Its platform has connected borrowers, financial institutions and investors, with services focused primarily on consumer and small-business lending, wealth management and related financial products.

The company uses data analytics, digital platforms and risk-management technologies to support customer acquisition, credit assessment, loan servicing and financial-product distribution.