LexinFintech (NASDAQ:LX) Shares Down 4.4% – Here’s What Happened

LexinFintech Holdings Ltd. (NASDAQ:LX)’s stock price fell 4.4% on Tuesday . The company traded as low as $5.56 and last traded at $5.63. 422,409 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 1,473,135 shares. The stock had previously closed at $5.89.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded LexinFintech from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 26th.

LexinFintech Stock Down 0.7 %

The company has a market capitalization of $945.39 million, a PE ratio of 9.14 and a beta of 0.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a fifty day simple moving average of $4.87 and a 200-day simple moving average of $3.06.

Hedge Funds Weigh In On LexinFintech

A number of hedge funds have recently bought and sold shares of LX. Wolverine Trading LLC bought a new stake in LexinFintech during the third quarter valued at $29,000. Kathmere Capital Management LLC bought a new stake in shares of LexinFintech during the 2nd quarter valued at about $36,000. Centiva Capital LP bought a new stake in shares of LexinFintech during the 3rd quarter valued at about $41,000. Virtu Financial LLC acquired a new stake in LexinFintech during the third quarter worth about $74,000. Finally, SG Americas Securities LLC bought a new position in LexinFintech in the third quarter worth about $122,000.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.