Lufax (NYSE:LU) Trading Down 3.3% – Here’s Why

Lufax Holding Ltd (NYSE:LU) shares fell 3.3% during trading on Thursday . The stock traded as low as $2.31 and last traded at $2.33. 62,411 shares changed hands during trading, a decline of 98% from the average session volume of 3,999,499 shares. The stock had previously closed at $2.41.

Analyst Ratings Changes

A number of research analysts recently commented on LU shares. Bank of America lowered their price target 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. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.20 price target on shares of Lufax in a report on Thursday, October 24th.

Lufax Stock Performance

The company has a market capitalization of $2.02 billion, a PE ratio of -3.03 and a beta of 0.90. The stock’s 50-day moving average is $2.85 and its two-hundred day moving average is $2.91.

Lufax (NYSE:LU) last issued its quarterly earnings data on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The business had revenue of $789.93 million for the quarter. Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. During the same quarter last year, the firm posted $0.04 earnings per share. On average, equities research analysts forecast that Lufax Holding Ltd will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Lufax

Several institutional investors have recently bought and sold shares of LU. Soltis Investment Advisors LLC acquired a new stake in Lufax in the third quarter valued at approximately $52,000. Geode Capital Management LLC boosted its stake in Lufax by 35.7% in the third quarter. Geode Capital Management LLC now owns 123,616 shares of the company’s stock valued at $431,000 after acquiring an additional 32,536 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Lufax in the third quarter valued at approximately $1,479,000. EWA LLC acquired a new stake in Lufax in the third quarter valued at approximately $45,000. Finally, State Street Corp boosted its stake in Lufax by 3.2% in the third quarter. State Street Corp now owns 4,960,609 shares of the company’s stock valued at $17,313,000 after acquiring an additional 155,006 shares in the last quarter. 69.14% of the stock is owned by hedge funds and other institutional investors.

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.