Lufax Holding Ltd (NYSE:LU – Get Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $3.16, but opened at $2.76. Lufax shares last traded at $2.75, with a volume of 789,040 shares.
Analysts Set New Price Targets
Separately, Bank of America reduced their target price on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a report on Friday, August 23rd.
Check Out Our Latest Stock Analysis on LU
Lufax Stock Performance
Lufax (NYSE:LU – Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.26). Lufax had a negative net margin of 8.70% and a negative return on equity of 2.66%. The firm had revenue of $822.36 million during the quarter. During the same quarter in the previous year, the company earned $0.24 earnings per share. As a group, sell-side analysts predict that Lufax Holding Ltd will post -0.09 earnings per share for the current year.
Hedge Funds Weigh In On Lufax
A number of institutional investors have recently modified their holdings of LU. Panagora Asset Management Inc. purchased a new stake in Lufax in the 2nd quarter worth approximately $26,000. Sequoia Financial Advisors LLC purchased a new position in Lufax in the first quarter valued at $60,000. SIH Partners LLLP acquired a new position in shares of Lufax in the second quarter worth about $65,000. SG Americas Securities LLC purchased a new stake in shares of Lufax during the 3rd quarter worth about $66,000. Finally, PDS Planning Inc acquired a new stake in shares of Lufax during the 1st quarter valued at about $78,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.
About Lufax
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.
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