LexinFintech (NASDAQ:LX) Stock Price Down 0.6% - What's Next?

Key Points

• LexinFintech shares fell 0.6% to $0.6993 in mid-day trading, while volume increased 83% above the average session level.
• Analysts have recently downgraded the stock, with ratings shifting to Hold, Neutral and Sell. The consensus rating is “Reduce”, with an average price target of $2.35.
• The company reported quarterly EPS of $0.11 on $469.1 million in revenue. LexinFintech has a market capitalization of approximately $117.1 million and trades below both its 50-day and 200-day moving averages.

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Get Free Report)'s stock price traded down 0.6% during mid-day trading on Monday. The stock traded as low as $0.6410 and last traded at $0.6993. 3,396,020 shares changed hands during mid-day trading, an increase of 83% from the average session volume of 1,851,031 shares. The stock had previously closed at $0.7037.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LX shares. Weiss Ratings downgraded shares of LexinFintech from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday. Wall Street Zen lowered shares of LexinFintech from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Citigroup cut shares of LexinFintech from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $4.38 to $1.20 in a research report on Tuesday, September 1st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $2.35.

LexinFintech Stock Performance

The company has a 50-day moving average price of $1.00 and a 200-day moving average price of $1.64. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $117.13 million, a price-to-earnings ratio of 0.83 and a beta of 0.86.

LexinFintech (NASDAQ:LX - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $469.10 million during the quarter. LexinFintech had a return on equity of 8.59% and a net margin of 7.94%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Anatole Investment Management Ltd boosted its position in shares of LexinFintech by 79.6% during the 4th quarter. Anatole Investment Management Ltd now owns 4,870,383 shares of the company's stock valued at $15,926,000 after acquiring an additional 2,159,246 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in LexinFintech by 30.5% during the first quarter. Principal Financial Group Inc. now owns 3,379,109 shares of the company's stock worth $7,366,000 after buying an additional 788,840 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of LexinFintech by 191.1% during the fourth quarter. Hsbc Holdings PLC now owns 155,725 shares of the company's stock worth $505,000 after purchasing an additional 102,232 shares during the period. Headlands Technologies LLC bought a new position in LexinFintech during the 2nd quarter worth about $181,000. Finally, Renaissance Technologies LLC increased its position in shares of LexinFintech by 6.7% in the first quarter. Renaissance Technologies LLC now owns 1,328,262 shares of the company's stock valued at $2,896,000 after acquiring an additional 83,362 shares during the last quarter.

LexinFintech Company Profile

LexinFintech Holdings Limited is a China-based fintech company that provides technology-enabled consumer finance services. Through its platforms, the company connects consumers seeking installment-payment and personal-loan products with financial institutions and other funding partners.

Its services have historically included Fenqile, an online consumer finance and installment-shopping platform, as well as technology solutions supporting credit assessment, loan facilitation, risk management and customer services.

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