Lufax (NYSE:LU) Trading 6.2% Higher - Should You Buy?

Key Points

• Lufax Holding Ltd. shares increased by 6.2% to last trade at $3.12, but trading volume saw a significant decline of 80% from the average session.
• Analysts have given the stock a mixed outlook; Wall Street Zen upgraded it from "sell" to "hold" while the consensus rating remains at "Reduce" with an average price target of $3.20.
• Recent institutional investments included major purchases from Nuveen LLC and Acadian Asset Management LLC, indicating growing institutional interest, with 69.14% of the stock now owned by institutional investors.

Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Get Free Report)'s stock price was up 6.2% during trading on Tuesday . The company traded as high as $3.07 and last traded at $3.12. Approximately 655,014 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,229,563 shares. The stock had previously closed at $2.94.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Lufax from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $3.20.

Lufax Price Performance

The company has a market capitalization of $2.61 billion, a PE ratio of -3.92 and a beta of 0.69. The business has a 50-day moving average of $2.87 and a 200 day moving average of $2.88.

Institutional Investors Weigh In On Lufax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LU. Northern Trust Corp raised its position in Lufax by 110.7% during the fourth quarter. Northern Trust Corp now owns 523,084 shares of the company's stock valued at $1,250,000 after purchasing an additional 274,808 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Lufax by 190.5% in the fourth quarter. BNP Paribas Financial Markets now owns 1,305,475 shares of the company's stock worth $3,120,000 after buying an additional 856,066 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Lufax by 2.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 456,099 shares of the company's stock worth $1,090,000 after buying an additional 12,572 shares during the period. Millennium Management LLC raised its holdings in shares of Lufax by 56.2% in the fourth quarter. Millennium Management LLC now owns 580,890 shares of the company's stock worth $1,388,000 after buying an additional 209,117 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Lufax in the fourth quarter worth approximately $142,000. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

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.