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

Key Points

• Lufax shares gapped down to $3.77 from a previous close of $4.00, with the last traded price at $3.94 and a trading volume of 902,293 shares.
• Analysts have mixed ratings for Lufax, with one upgrade to "hold" and two "sell" ratings, resulting in an average target price of $3.20.
• Institutional investors own 69.14% of Lufax, with significant recent purchases from firms like SG Americas Securities and Allianz Asset Management.

Shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $4.00, but opened at $3.77. Lufax shares last traded at $3.94, with a volume of 902,293 shares.

Analysts Set New Price Targets

LU has been the topic of several research reports. Wall Street Zen upgraded shares of Lufax from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Weiss Ratings restated a "sell (d)" rating on shares of Lufax in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Lufax presently has an average rating of "Sell" and an average target price of $3.20.

Lufax Stock Performance

The firm's fifty day simple moving average is $3.12 and its 200 day simple moving average is $2.93. The stock has a market capitalization of $3.54 billion, a P/E ratio of -5.31 and a beta of 0.76.

Institutional Investors Weigh In On Lufax

Large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Lufax during the 1st quarter worth $533,000. Wellington Management Group LLP bought a new position in Lufax in the fourth quarter valued at about $380,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Lufax by 44.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,017 shares of the company's stock worth $71,000 after acquiring an additional 7,417 shares in the last quarter. Cape Ann Asset Management Ltd bought a new position in shares of Lufax in the first quarter worth about $3,180,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Lufax by 18.4% in the first quarter. Allianz Asset Management GmbH now owns 1,764,470 shares of the company's stock worth $5,240,000 after acquiring an additional 274,540 shares during the last quarter. Institutional investors and hedge funds 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.

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