LexinFintech (NASDAQ:LX) Trading 11.8% Higher - Time to Buy?

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Get Free Report) rose 11.8% on Wednesday . The stock traded as high as $7.70 and last traded at $7.89. Approximately 1,851,331 shares were traded during trading, a decline of 45% from the average daily volume of 3,354,804 shares. The stock had previously closed at $7.05.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of LexinFintech from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th.

LexinFintech Stock Performance

The stock's 50-day simple moving average is $7.33 and its two-hundred day simple moving average is $7.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 6.53 and a beta of 0.41.

LexinFintech (NASDAQ:LX - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.33 earnings per share for the quarter. The business had revenue of $427.76 million for the quarter. LexinFintech had a net margin of 9.44% and a return on equity of 12.52%.

LexinFintech announced that its Board of Directors has authorized a stock buyback program on Monday, July 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On LexinFintech

Large investors have recently modified their holdings of the stock. Aigen Investment Management LP acquired a new position in shares of LexinFintech during the first quarter worth approximately $103,000. Janney Montgomery Scott LLC bought a new position in LexinFintech in the second quarter valued at approximately $75,000. Ameriprise Financial Inc. bought a new position in LexinFintech in the fourth quarter valued at approximately $61,000. CreativeOne Wealth LLC bought a new position in LexinFintech in the first quarter valued at approximately $107,000. Finally, Ballentine Partners LLC bought a new position in LexinFintech in the second quarter valued at approximately $86,000.

LexinFintech Company Profile

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.