Lufax (NYSE:LU) Trading 7.7% Higher – Here’s What Happened

Lufax Holding Ltd (NYSE:LU) was up 7.7% during trading on Tuesday . The stock traded as high as $2.70 and last traded at $2.72. Approximately 1,421,065 shares were traded during trading, a decline of 40% from the average daily volume of 2,367,175 shares. The stock had previously closed at $2.52.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “hold” rating and issued a $3.20 price target on shares of Lufax in a research note on Thursday, October 24th.

Lufax Stock Performance

The firm has a market cap of $2.42 billion, a P/E ratio of -3.63, a P/E/G ratio of 0.97 and a beta of 0.84. The firm’s fifty day moving average is $2.46 and its 200 day moving average is $2.65.

Lufax (NYSE:LU) last issued its quarterly earnings data on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). The firm had revenue of $789.93 million for the quarter. Lufax had a negative return on equity of 3.63% and a negative net margin of 12.75%. During the same period in the previous year, the company posted $0.04 EPS. As a group, equities research analysts forecast that Lufax Holding Ltd will post -0.48 EPS for the current year.

Institutional Trading of Lufax

Institutional investors have recently added to or reduced their stakes in the company. EWA LLC bought a new position in Lufax during the 3rd quarter worth $45,000. Soltis Investment Advisors LLC acquired a new position in shares of Lufax in the third quarter valued at about $52,000. SG Americas Securities LLC bought a new position in Lufax during the third quarter worth about $66,000. SIH Partners LLLP acquired a new stake in Lufax in the 2nd quarter worth about $65,000. Finally, Quantbot Technologies LP bought a new stake in Lufax in the 3rd quarter valued at about $143,000. 69.14% of the stock is currently owned by institutional investors.

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.