LexinFintech (NASDAQ:LX) Upgraded by Citigroup to Buy Rating

LexinFintech (NASDAQ:LX) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports.

LexinFintech Stock Performance

LX traded up $0.75 on Tuesday, reaching $4.15. The company had a trading volume of 9,094,362 shares, compared to its average volume of 1,642,785. LexinFintech has a 1 year low of $1.56 and a 1 year high of $4.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $681.14 million, a PE ratio of 6.19 and a beta of 0.53. The stock has a 50-day moving average price of $3.03 and a 200-day moving average price of $2.19.

LexinFintech (NASDAQ:LX) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.19 earnings per share for the quarter. LexinFintech had a net margin of 5.80% and a return on equity of 8.16%. The firm had revenue of $500.98 million during the quarter.

Hedge Funds Weigh In On LexinFintech

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wolverine Trading LLC purchased a new position in LexinFintech in the third quarter valued at about $29,000. Kathmere Capital Management LLC acquired a new stake in shares of LexinFintech in the 2nd quarter worth approximately $36,000. Centiva Capital LP purchased a new position in LexinFintech in the 3rd quarter valued at approximately $41,000. Virtu Financial LLC acquired a new position in LexinFintech during the third quarter worth $74,000. Finally, SG Americas Securities LLC purchased a new stake in LexinFintech during the third quarter worth $122,000.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.