Lufax (NYSE:LU) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen has upgraded Lufax from a "sell" rating to a "hold" rating in a recent research note.
• In contrast, Deutsche Bank downgraded Lufax from a "hold" rating to a "sell" rating just days later.
• Lufax's stock is currently trading down 12.4%, with a market capitalization of $2.54 billion and a twelve month low of $2.13.

Wall Street Zen upgraded shares of Lufax (NYSE:LU - Free Report) from a sell rating to a hold rating in a research report released on Saturday.

Separately, Deutsche Bank Aktiengesellschaft downgraded shares of Lufax from a "hold" rating to a "sell" rating in a research report on Tuesday, April 29th.

Lufax Price Performance

Lufax stock traded down $0.03 during midday trading on Friday, reaching $2.86. 2,093,127 shares of the company traded hands, compared to its average volume of 2,706,529. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -3.71 and a beta of 0.69. The business has a 50 day moving average of $2.87 and a two-hundred day moving average of $2.81. Lufax has a 12 month low of $2.13 and a 12 month high of $4.15.

Hedge Funds Weigh In On Lufax

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Lufax by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,143,366 shares of the company's stock valued at $17,073,000 after acquiring an additional 70,181 shares in the last quarter. Tiger Pacific Capital LP grew its stake in Lufax by 71.7% during the first quarter. Tiger Pacific Capital LP now owns 6,757,978 shares of the company's stock valued at $20,071,000 after acquiring an additional 2,821,316 shares in the last quarter. Acadian Asset Management LLC grew its stake in Lufax by 163.4% during the first quarter. Acadian Asset Management LLC now owns 5,168,650 shares of the company's stock valued at $15,335,000 after acquiring an additional 3,206,645 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lufax by 19.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,011,130 shares of the company's stock valued at $14,883,000 after acquiring an additional 805,292 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Lufax during the first quarter valued at $14,432,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

Lufax Company Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.