Lufax (NYSE:LU) Shares Up 6.9% - What's Next?

Key Points

• Lufax shares rose 6.9% to $8.48, despite trading volume falling 47% below the average session volume.
• Analyst sentiment remains mixed, with ratings ranging from sell to overweight; the consensus rating is “Hold” with a $17.00 price target.
• Lufax reported a quarterly loss of $0.27 per share and revenue of $921.68 million, missing consensus estimates of $10.81 EPS and $2.22 billion in revenue.

Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Get Free Report) rose 6.9% on Friday. The company traded as high as $8.40 and last traded at $8.48. Approximately 74,530 shares traded hands during trading, a decline of 47% from the average session volume of 139,618 shares. The stock had previously closed at $7.93.

Analyst Upgrades and Downgrades

Several brokerages have commented on LU. Wall Street Zen cut shares of Lufax from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Deutsche Bank Aktiengesellschaft set a $14.00 price target on Lufax and gave the stock a "hold" rating in a report on Thursday, August 27th. JPMorgan Chase & Co. upgraded Lufax from a "neutral" rating to an "overweight" rating and set a $20.00 price target for the company in a research note on Tuesday, July 28th. Weiss Ratings restated a "sell (d)" rating on shares of Lufax in a research note on Thursday, August 13th. Finally, Zacks Research raised shares of Lufax from a "strong sell" rating to a "hold" rating in a research note on Monday, September 28th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $17.00.

Lufax Stock Performance

The company has a market capitalization of $702.46 million, a price-to-earnings ratio of -1.33 and a beta of 0.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72. The stock has a 50 day moving average price of $11.11 and a two-hundred day moving average price of $17.30.

Lufax (NYSE:LU - Get Free Report) last released its earnings results on Tuesday, October 27th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of $10.81 by ($11.08). The firm had revenue of $921.68 million during the quarter, compared to the consensus estimate of $2.22 billion. On average, analysts predict that Lufax Holding Ltd. Sponsored ADR will post -2.90 EPS for the current fiscal year.

Institutional Investors Weigh In On Lufax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barometer Capital Management Inc. raised its position in Lufax by 7,538.6% in the first 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 lifted its holdings in Lufax by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company's stock worth $615,000 after buying an additional 7,608 shares during the period. Fulton Bank N.A. acquired a new position in shares of Lufax in the first quarter worth approximately $27,000. Asset Management One Co. Ltd. grew its holdings in Lufax by 8.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 37,853 shares of the company's stock worth $46,000 after acquiring an additional 2,994 shares during the period. Finally, Engineers Gate Manager LP bought a new stake in Lufax in the second quarter worth approximately $60,000. 69.14% of the stock is currently owned by institutional investors.

About Lufax

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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