Lufax (NYSE:LU) Trading Down 10.8% - Should You Sell?

Key Points

• Lufax's stock price decreased by 10.8%, trading at $2.99, after previously closing at $3.35 amid a significant drop in trading volume.
• Deutsche Bank has downgraded Lufax's rating from "hold" to "sell" in a recent report, signaling concerns about the company's performance.
• Franklin Resources and other institutional investors increased their holdings in Lufax during the fourth quarter, indicating ongoing interest in the stock despite recent negative trends.
• Lufax operates as a financial service provider in China, offering various loan and wealth management products aimed at small and micro businesses.

Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Get Free Report) shares fell 10.8% during mid-day trading on Friday . The company traded as low as $2.98 and last traded at $2.99. 892,874 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 3,479,364 shares. The stock had previously closed at $3.35.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LU. Wall Street Zen raised shares of Lufax from a "sell" rating to a "hold" rating in a report on Saturday. Deutsche Bank Aktiengesellschaft downgraded shares of Lufax from a "hold" rating to a "sell" rating in a report on Tuesday, April 29th.

Lufax Stock Down 0.9%

The firm has a market cap of $2.47 billion, a PE ratio of -3.71 and a beta of 0.69. The company's 50 day moving average price is $2.87 and its two-hundred day moving average price is $2.81.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Leading Securities Co Ltd increased its position in Lufax by 95.0% during the 2nd quarter. Leading Securities Co Ltd now owns 373,331 shares of the company's stock valued at $1,042,000 after purchasing an additional 181,871 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in Lufax in the 2nd quarter worth approximately $28,000. Aberdeen Group plc boosted its stake in Lufax by 54.4% in the 2nd quarter. Aberdeen Group plc now owns 79,947 shares of the company's stock worth $223,000 after purchasing an additional 28,166 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Lufax by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,343,505 shares of the company's stock worth $3,990,000 after purchasing an additional 8,236 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in 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 acquiring an additional 3,206,645 shares during the period. Hedge funds and other institutional investors 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.