Lufax Holding Ltd (NYSE:LU – Get Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $3.40, but opened at $3.25. Lufax shares last traded at $3.37, with a volume of 1,034,650 shares.
Wall Street Analysts Forecast Growth
Separately, Bank of America cut their price target on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, August 23rd.
Check Out Our Latest Report on LU
Lufax Stock Performance
Lufax (NYSE:LU – Get Free Report) last posted its earnings results on Wednesday, August 21st. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.26). The firm had revenue of $822.36 million during the quarter. Lufax had a negative net margin of 8.70% and a negative return on equity of 2.66%. During the same quarter last year, the firm earned $0.24 earnings per share. On average, equities research analysts expect that Lufax Holding Ltd will post -0.09 earnings per share for the current year.
Institutional Investors Weigh In On Lufax
A number of large investors have recently added to or reduced their stakes in LU. Panagora Asset Management Inc. acquired a new stake in Lufax during the second quarter worth about $26,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Lufax during the 1st quarter worth approximately $60,000. SIH Partners LLLP acquired a new stake in shares of Lufax during the 2nd quarter worth approximately $65,000. SG Americas Securities LLC bought a new position in Lufax in the third quarter valued at approximately $66,000. Finally, PDS Planning Inc acquired a new position in Lufax during the first quarter valued at approximately $78,000. Institutional investors and hedge funds own 69.14% of the company’s stock.
Lufax Company Profile
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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