LexinFintech (NASDAQ:LX) Upgraded to "Buy" at Wall Street Zen

Key Points

• LexinFintech (NASDAQ:LX) was upgraded by Wall Street Zen from “hold” to “buy”, though Weiss Ratings separately trimmed its view to a lower hold rating.
• The stock was down 8.9% in Friday trading, falling to $1.59 near its 12-month low of $1.54, with trading volume well above average.
• Despite the weak share price, LexinFintech’s latest data show a low debt-to-equity ratio and a consensus analyst rating of Hold with a $3.50 price target.

LexinFintech (NASDAQ:LX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Sunday.

Separately, Weiss Ratings lowered shares of LexinFintech from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $3.50.

LexinFintech Stock Down 8.9%

NASDAQ:LX traded down $0.15 during midday trading on Friday, reaching $1.59. The company had a trading volume of 9,052,014 shares, compared to its average volume of 1,627,392. LexinFintech has a 12-month low of $1.54 and a 12-month high of $7.99. The firm has a market capitalization of $267.16 million, a price-to-earnings ratio of 1.39 and a beta of 0.82. The company has a current ratio of 2.03, a quick ratio of 2.02 and a debt-to-equity ratio of 0.15. The stock's fifty day simple moving average is $2.03 and its 200-day simple moving average is $2.49.

Institutional Trading of LexinFintech

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in LexinFintech by 67.6% in the third quarter. JPMorgan Chase & Co. now owns 3,528,164 shares of the company's stock valued at $18,805,000 after purchasing an additional 1,423,034 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of LexinFintech during the 4th quarter worth approximately $1,414,000. Anatole Investment Management Ltd boosted its holdings in shares of LexinFintech by 79.6% in the 4th quarter. Anatole Investment Management Ltd now owns 4,870,383 shares of the company's stock valued at $15,926,000 after buying an additional 2,159,246 shares in the last quarter. Oasis Management Co Ltd. boosted its holdings in shares of LexinFintech by 56.9% in the 4th quarter. Oasis Management Co Ltd. now owns 1,744,075 shares of the company's stock valued at $5,703,000 after buying an additional 632,575 shares in the last quarter. Finally, Brilliance Asset Management Ltd. grew its position in shares of LexinFintech by 24.2% in the 4th quarter. Brilliance Asset Management Ltd. now owns 3,601,592 shares of the company's stock valued at $11,777,000 after buying an additional 701,943 shares during the last quarter.

About LexinFintech

LexinFintech Holdings Ltd. NASDAQ: LX is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company's core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.

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