Lufax (NYSE:LU) Shares Gap Down - What's Next?

Shares of Lufax Holding Ltd (NYSE:LU - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $2.90, but opened at $2.80. Lufax shares last traded at $2.89, with a volume of 615,847 shares traded.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft lowered shares of Lufax from a "hold" rating to a "sell" rating in a research note on Tuesday, April 29th.

Lufax Price Performance

The firm has a fifty day simple moving average of $2.84 and a 200-day simple moving average of $2.66. The company has a market cap of $2.37 billion, a PE ratio of -3.56 and a beta of 0.71.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LU. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Lufax by 102.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,600 shares of the company's stock valued at $40,000 after acquiring an additional 8,382 shares during the period. Pictet Asset Management Holding SA boosted its stake in Lufax by 230.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 17,282 shares of the company's stock worth $41,000 after purchasing an additional 12,048 shares during the period. Corient Private Wealth LLC grew its position in Lufax by 43.6% during the 4th quarter. Corient Private Wealth LLC now owns 21,218 shares of the company's stock worth $51,000 after purchasing an additional 6,445 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Lufax in the first quarter valued at $70,000. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Lufax by 24.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 32,677 shares of the company's stock valued at $79,000 after buying an additional 6,422 shares during the last quarter. Hedge funds and other 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.