Lufax (NYSE:LU) Hits New 12-Month Low - Time to Sell?

Key Points

• Lufax shares fell to a new 52-week low of $1.19, trading below both their 50-day ($1.38) and 200-day ($1.65) moving averages.
• Analyst sentiment is mostly negative, with a consensus “Reduce” rating and an average price target of $1.70; ratings range from Buy to Strong Sell.
• The company reported a significant quarterly miss, posting a $0.04 loss per share versus expectations for $1.08 in earnings and revenue of $916.61 million versus $2.22 billion expected.

Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $1.19 and last traded at $1.1850, with a volume of 299404 shares. The stock had previously closed at $1.20.

Analyst Upgrades and Downgrades

LU has been the subject of several recent research reports. Wall Street Zen downgraded Lufax from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Weiss Ratings reissued a "sell (d)" rating on shares of Lufax in a research report on Thursday, August 13th. JPMorgan Chase & Co. upgraded shares of Lufax from a "neutral" rating to an "overweight" rating and set a $2.00 price target on the stock in a research note on Tuesday, July 28th. Zacks Research cut shares of Lufax from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft set a $1.40 price objective on shares of Lufax and gave the company a "hold" rating in a report on Thursday, August 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Lufax has a consensus rating of "Reduce" and an average price target of $1.70.

Lufax Stock Performance

The stock's fifty day moving average price is $1.38 and its two-hundred day moving average price is $1.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.72 and a current ratio of 1.72. The company has a market cap of $1.03 billion, a P/E ratio of -1.94 and a beta of 0.76.

Lufax (NYSE:LU - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($1.12). The business had revenue of $916.61 million during the quarter, compared to analysts' expectations of $2.22 billion. As a group, equities analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP bought a new stake in shares of Lufax in the second quarter worth approximately $60,000. Public Employees Retirement System of Ohio purchased a new stake in Lufax in the second quarter worth approximately $157,000. Ramsey Quantitative Systems bought a new stake in Lufax in the 2nd quarter worth approximately $199,000. Barometer Capital Management Inc. grew its position in Lufax by 7,538.6% in the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company's stock worth $1,000,000 after purchasing an additional 527,700 shares during the period. Finally, California Public Employees Retirement System raised its stake in Lufax by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company's stock valued at $615,000 after buying an additional 7,608 shares during the last quarter. Institutional investors own 69.14% of the company's stock.

Lufax Company Profile

Lufax Holding Ltd. NYSE: LU is a China-based financial services technology company that operates an online platform connecting borrowers, lenders and wealth-management customers. The company primarily serves small business owners, self-employed individuals and retail investors through digital financial products and services.

Lufax's business includes consumer and small-business lending, wealth-management services and related technology solutions. Its platform uses data analytics, risk-management tools and digital processes to support loan origination, servicing and investment transactions.

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