Lufax (NYSE:LU) Shares Up 6.2% - 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) shares shot up 6.2% on Tuesday . The company traded as high as $3.07 and last traded at $3.12. 655,014 shares changed hands during trading, a decline of 80% from the average session volume of 3,229,563 shares. The stock had previously closed at $2.94.

Analysts Set New Price Targets

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

Lufax Stock Performance

The company has a fifty day simple moving average of $2.85 and a two-hundred day simple moving average of $2.88. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -4.03 and a beta of 0.69.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Nuveen LLC purchased a new stake in shares of Lufax during the 1st quarter valued at $14,432,000. First Beijing Investment Ltd purchased a new stake in shares of Lufax during the 1st quarter valued at $13,046,000. Tiger Pacific Capital LP purchased a new stake in shares of Lufax during the 4th quarter valued at $9,409,000. Acadian Asset Management LLC grew its stake in shares of Lufax by 163.4% during the 1st quarter. Acadian Asset Management LLC now owns 5,168,650 shares of the company's stock valued at $15,335,000 after buying an additional 3,206,645 shares during the period. Finally, Yunqi Capital Ltd grew its stake in shares of Lufax by 42.3% during the 2nd quarter. Yunqi Capital Ltd now owns 10,098,040 shares of the company's stock valued at $28,174,000 after buying an additional 3,000,000 shares during the period. 69.14% of the stock is currently owned by institutional investors and hedge funds.

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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