Lufax (NYSE:LU) Reaches New 52-Week Low - Here's What Happened

Key Points

• Lufax shares hit a new 52-week low of $1.15 before closing around $1.1650, with the stock down well below its 50-day and 200-day moving averages.
• Analyst sentiment is weak: Lufax has an average “Reduce” rating and a consensus price target of $1.70, with recent downgrades to “Sell” and “Strong Sell” offset by JPMorgan’s upgrade to “Overweight.”
• The company’s latest quarterly results missed estimates significantly, reporting a loss of $0.04 per share versus expectations of $1.08 and revenue of $916.61 million versus an estimated $2.22 billion.

Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $1.15 and last traded at $1.1650, with a volume of 1273538 shares changing hands. The stock had previously closed at $1.16.

Analyst Ratings Changes

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

Lufax Stock Up 0.4%

The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.01 billion, a P/E ratio of -1.91 and a beta of 0.76. The business has a 50-day moving average price of $1.37 and a 200 day moving average price of $1.61.

Lufax (NYSE:LU - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($1.12). The business had revenue of $916.61 million for the quarter, compared to analyst estimates of $2.22 billion. On average, equities analysts expect that Lufax Holding Ltd. Sponsored ADR will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Lufax

Several large investors have recently added to or reduced their stakes in LU. Alpine Investment Management Ltd lifted its stake in shares of Lufax by 91.9% in the 4th quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company's stock valued at $20,753,000 after purchasing an additional 3,881,500 shares during the last quarter. Barometer Capital Management Inc. increased its position in shares of Lufax by 7,538.6% during the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company's stock valued at $1,000,000 after purchasing an additional 527,700 shares during the last quarter. California Public Employees Retirement System increased its position in shares of 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 purchasing an additional 7,608 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Lufax by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company's stock valued at $595,000 after buying an additional 14,224 shares during the period. Finally, Fideuram Asset Management Ireland dac purchased a new stake in Lufax during the 4th quarter valued at $498,000. 69.14% of the stock is owned by institutional investors.

About Lufax

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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