Lufax (NYSE:LU) Shares Gap Down - Time to Sell?

Lufax Holding Ltd (NYSE:LU - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $2.95, but opened at $2.85. Lufax shares last traded at $2.90, with a volume of 517,053 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 report on Tuesday, April 29th.

Lufax Stock Performance

The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -3.77 and a beta of 0.71. The company has a 50 day moving average price of $2.86 and a two-hundred day moving average price of $2.67.

Institutional Trading of Lufax

Several institutional investors have recently modified their holdings of LU. Catalyst Funds Management Pty Ltd boosted its holdings in Lufax by 999.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 888,000 shares of the company's stock worth $2,122,000 after buying an additional 807,200 shares during the last quarter. Norges Bank purchased a new stake in shares of Lufax during the fourth quarter worth approximately $4,221,000. JPMorgan Chase & Co. raised its stake in Lufax by 27.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,235 shares of the company's stock valued at $221,000 after purchasing an additional 13,630 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Lufax by 35.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,205,838 shares of the company's stock valued at $10,052,000 after purchasing an additional 1,102,943 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Lufax by 35.7% during the 3rd quarter. Geode Capital Management LLC now owns 123,616 shares of the company's stock worth $431,000 after purchasing an additional 32,536 shares during the last quarter. Institutional investors and hedge funds own 69.14% of the company's stock.

About Lufax

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.