Lufax (NYSE:LU) Trading Down 3.3% – Here’s Why

Lufax Holding Ltd (NYSE:LU) shares dropped 3.3% on Thursday . The company traded as low as $2.31 and last traded at $2.33. Approximately 62,411 shares were traded during trading, a decline of 98% from the average daily volume of 3,999,499 shares. The stock had previously closed at $2.41.

Analyst Ratings Changes

LU has been the subject of a number of research reports. Bank of America decreased their target price on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a research note on Friday, August 23rd. Jefferies Financial Group reiterated a “hold” rating and set a $3.20 target price on shares of Lufax in a research note on Thursday, October 24th.

Lufax Stock Performance

The stock has a market capitalization of $2.02 billion, a PE ratio of -3.03 and a beta of 0.90. The firm has a 50 day moving average price of $2.85 and a 200 day moving average price of $2.91.

Lufax (NYSE:LU) last posted its quarterly earnings data on Monday, October 21st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The company had revenue of $789.93 million during the quarter. Lufax had a negative return on equity of 3.63% and a negative net margin of 12.75%. During the same period last year, the business earned $0.04 EPS. On average, equities research analysts expect that Lufax Holding Ltd will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in Lufax by 4.3% in the 3rd quarter. Baillie Gifford & Co. now owns 14,617,105 shares of the company’s stock worth $51,014,000 after buying an additional 605,134 shares during the period. State Street Corp boosted its holdings in shares of Lufax by 3.2% during the 3rd quarter. State Street Corp now owns 4,960,609 shares of the company’s stock valued at $17,313,000 after purchasing an additional 155,006 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lufax by 43.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock valued at $10,829,000 after purchasing an additional 936,048 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Lufax by 6.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,688,219 shares of the company’s stock valued at $6,371,000 after purchasing an additional 152,025 shares during the last quarter. Finally, Caxton Associates LP bought a new position in shares of Lufax during the 2nd quarter valued at about $2,152,000. Institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.