Lufax Holding Ltd (NYSE:LU) Short Interest Up 19.8% in January

Lufax Holding Ltd (NYSE:LU) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 9,540,000 shares, an increase of 19.8% from the January 15th total of 7,960,000 shares. Based on an average daily trading volume, of 3,180,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 1.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Lufax

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. raised its stake in Lufax by 4.3% during the 3rd quarter. Baillie Gifford & Co. now owns 14,617,105 shares of the company’s stock worth $51,014,000 after acquiring an additional 605,134 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Lufax by 27.5% in the third quarter. JPMorgan Chase & Co. now owns 63,235 shares of the company’s stock valued at $221,000 after acquiring an additional 13,630 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Lufax by 43.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock worth $10,829,000 after buying an additional 936,048 shares in the last quarter. State Street Corp boosted its holdings in Lufax by 3.2% during the third quarter. State Street Corp now owns 4,960,609 shares of the company’s stock worth $17,313,000 after buying an additional 155,006 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Lufax during the third quarter worth about $1,479,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “hold” rating and set a $3.20 target price on shares of Lufax in a report on Thursday, October 24th.

Lufax Price Performance

Shares of LU traded up $0.15 during midday trading on Friday, reaching $2.89. The stock had a trading volume of 5,665,314 shares, compared to its average volume of 3,205,443. Lufax has a 1-year low of $2.00 and a 1-year high of $4.94. The company’s fifty day simple moving average is $2.50 and its two-hundred day simple moving average is $2.62. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -3.75 and a beta of 0.84.

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.