LexinFintech (NASDAQ:LX) Hits New 52-Week High – Here’s What Happened

LexinFintech Holdings Ltd. (NASDAQ:LX) shares hit a new 52-week high during trading on Friday . The company traded as high as $10.45 and last traded at $10.32, with a volume of 2178995 shares trading hands. The stock had previously closed at $9.07.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised shares of LexinFintech from a “neutral” rating to a “buy” rating in a report on Tuesday, November 26th.

LexinFintech Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a 50-day moving average price of $7.78 and a 200-day moving average price of $5.05. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 16.44 and a beta of 0.60.

Hedge Funds Weigh In On LexinFintech

Several large investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of LexinFintech during the fourth quarter worth approximately $29,000. Tower Research Capital LLC TRC grew its holdings in LexinFintech by 146.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company’s stock valued at $71,000 after buying an additional 7,227 shares in the last quarter. QRG Capital Management Inc. increased its position in LexinFintech by 24.1% during the 4th quarter. QRG Capital Management Inc. now owns 45,124 shares of the company’s stock worth $262,000 after buying an additional 8,752 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of LexinFintech during the fourth quarter worth $61,000. Finally, Wolverine Trading LLC bought a new stake in shares of LexinFintech in the third quarter valued at about $29,000.

LexinFintech Company Profile

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.