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

Key Points

• Lufax Holding Ltd. shares gapped down from a previous close of $3.21 to open at $3.04, and last traded at $3.34 with a trading volume of 2,072,376 shares.
• Analysts have mixed ratings for the stock, with Wall Street Zen upgrading Lufax from a "sell" to a "hold" rating, while Weiss Ratings maintains a "sell" rating, resulting in a consensus rating of "sell."
• Institutional investors hold a significant portion of Lufax shares, with 69.14% ownership including notable increases from firms like Asset Management One and Geode Capital Management.

Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $3.21, but opened at $3.04. Lufax shares last traded at $3.34, with a volume of 2,072,376 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LU. Wall Street Zen upgraded shares of Lufax from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Weiss Ratings reiterated a "sell (d)" rating on shares of Lufax in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of "Sell".

Lufax Stock Up 3.6%

The firm has a 50 day moving average price of $3.32 and a 200 day moving average price of $2.99. The stock has a market cap of $2.88 billion, a P/E ratio of -4.33 and a beta of 0.76.

Institutional Trading of Lufax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. raised its stake in Lufax by 14.4% during the 2nd quarter. Asset Management One Co. Ltd. now owns 40,140 shares of the company's stock valued at $112,000 after purchasing an additional 5,043 shares during the period. Geode Capital Management LLC grew its holdings in Lufax by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 143,238 shares of the company's stock valued at $400,000 after buying an additional 5,417 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Lufax by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 70,969 shares of the company's stock valued at $211,000 after buying an additional 7,122 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Lufax by 44.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,017 shares of the company's stock valued at $71,000 after buying an additional 7,417 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Lufax by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,343,505 shares of the company's stock valued at $3,990,000 after buying an additional 8,236 shares in the last quarter. Institutional investors 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.

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