Lufax (NYSE:LU) Stock Falls 13.1% – Here’s What Happened

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) shares fell 13.1% during trading on Monday. The company traded as low as $8.13 and last traded at $8.1150. Approximately 147,024 shares were traded during mid-day trading, an increase of 0% from the average session volume of 146,753 shares. The stock had previously closed at $9.34.

Analysts Set New Price Targets

LU has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft set a $14.00 target price on shares of Lufax and gave the company a “hold” rating in a report on Thursday, August 27th. JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Tuesday, July 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a report on Thursday, August 13th. Zacks Research raised Lufax from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Finally, Wall Street Zen lowered Lufax from a “sell” rating to a “strong sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.00.

Lufax Price Performance

The company has a market capitalization of $679.22 million, a P/E ratio of -1.27 and a beta of 0.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.69 and a quick ratio of 1.69. The company’s 50-day moving average price is $10.51 and its two-hundred day moving average price is $16.76.

Lufax (NYSE:LU) last released its quarterly earnings results on Wednesday, October 28th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $10.81 by ($11.08). The business had revenue of $921.68 million for the quarter, compared to analysts’ expectations of $2.22 billion. As a group, sell-side analysts expect that Lufax Holding Ltd. Sponsored ADR will post -1.44 EPS for the current year.

Institutional Trading of Lufax

Several hedge funds have recently added to or reduced their stakes in the company. Barometer Capital Management Inc. boosted its stake 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 period. California Public Employees Retirement System increased its position in Lufax by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock worth $615,000 after buying an additional 7,608 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Lufax by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock worth $595,000 after buying an additional 14,224 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Lufax by 2.8% during the first quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock worth $461,000 after buying an additional 6,600 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new stake in shares of Lufax during the second quarter worth $199,000. 69.14% of the stock is owned by institutional investors and hedge funds.

Lufax Company Profile

Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates digital platforms for retail and small-business finance. The company connects consumers and small-business owners with financial products and services through online channels and technology-enabled processes.

Lufax’s business has historically included retail lending, wealth management and related financial services. Its platforms have provided access to consumer and small-business loans, investment products and other services offered in cooperation with financial institutions.