Lufax (NYSE:LU) Shares Down 13.1% - Should You Sell?

Key Points

• Lufax shares fell 13.1% in mid-day trading, dropping from the previous close of $9.34 to about $8.12.
• Analyst views were mixed, but the consensus rating was Hold with an average price target of $17; individual recommendations ranged from strong sell to overweight.
• Lufax reported quarterly EPS of -$0.27 versus the stated consensus estimate of $10.81, while revenue of $921.68 million came in below the $2.22 billion estimate.

Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Get Free Report)'s stock price dropped 13.1% during mid-day trading on Monday. The stock traded as low as $8.13 and last traded at $8.1150. 147,024 shares traded hands during trading, an increase of 0% from the average daily volume of 146,753 shares. The stock had previously closed at $9.34.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LU shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Lufax in a report on Thursday, August 13th. Wall Street Zen downgraded shares of Lufax from a "sell" rating to a "strong sell" rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft set a $14.00 target price on shares of Lufax and gave the company a "hold" rating in a research report on Thursday, August 27th. JPMorgan Chase & Co. raised shares of Lufax from a "neutral" rating to an "overweight" rating and set a $20.00 target price on the stock in a research note on Tuesday, July 28th. Finally, Zacks Research upgraded shares of Lufax from a "strong sell" rating to a "hold" rating in a research report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $17.00.

Lufax Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.69 and a quick ratio of 1.69. The stock's 50 day simple moving average is $10.51 and its two-hundred day simple moving average is $16.76. The stock has a market cap of $679.22 million, a P/E ratio of -1.27 and a beta of 0.80.

Lufax (NYSE:LU - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of $10.81 by ($11.08). The company had revenue of $921.68 million for the quarter, compared to analyst estimates of $2.22 billion. As a group, research analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -1.44 EPS for the current year.

Hedge Funds Weigh In On Lufax

Large investors have recently bought and sold shares of the company. 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 worth $1,000,000 after purchasing an additional 527,700 shares during the last quarter. Ramsey Quantitative Systems acquired a new stake in shares of Lufax in the 2nd quarter valued at approximately $199,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Lufax in the 2nd quarter valued at approximately $157,000. Engineers Gate Manager LP bought a new position in shares of Lufax in the second quarter valued at $60,000. Finally, StoneX Group Inc. bought a new position in shares of Lufax in the third quarter valued at $47,000. Institutional investors and hedge funds 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 digital platforms for retail and small-business finance. The company connects consumers and small-business owners with financial products and services through online channels and technology-enabled processes.

Lufax's business has historically included retail lending, wealth management and related financial services. Its platforms have provided access to consumer and small-business loans, investment products and other services offered in cooperation with financial institutions.

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