Lufax (NYSE:LU) Stock Price Down 16.4% – Here’s Why

Lufax Holding Ltd (NYSE:LU) shares fell 16.4% during mid-day trading on Tuesday . The stock traded as low as $3.28 and last traded at $3.32. 1,355,616 shares were traded during trading, a decline of 68% from the average session volume of 4,227,165 shares. The stock had previously closed at $3.97.

Analyst Upgrades and Downgrades

Separately, Bank of America decreased their target price 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.

Lufax Trading Down 0.3 %

The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $2.68 and its 200-day moving average is $3.27. The stock has a market capitalization of $1.94 billion, a PE ratio of -24.21 and a beta of 0.85.

Lufax (NYSE:LU) last announced its quarterly earnings data on Wednesday, August 21st. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.26). The company had revenue of $822.36 million for the quarter. Lufax had a negative net margin of 8.70% and a negative return on equity of 2.66%. During the same period in the previous year, the company earned $0.24 earnings per share. As a group, analysts anticipate that Lufax Holding Ltd will post -0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Lufax

Several hedge funds and other institutional investors have recently modified their holdings of LU. SG Americas Securities LLC acquired a new position in shares of Lufax during the 3rd quarter valued at $66,000. Maven Securities LTD boosted its position in shares of Lufax by 350.0% in the second quarter. Maven Securities LTD now owns 180,000 shares of the company’s stock worth $427,000 after buying an additional 140,000 shares during the period. SIH Partners LLLP acquired a new stake in shares of Lufax in the second quarter valued at about $65,000. AQR Capital Management LLC acquired a new position in Lufax during the 2nd quarter worth approximately $1,114,000. Finally, Caxton Associates LP acquired a new position in Lufax during the 2nd quarter worth approximately $2,152,000. 69.14% of the stock is owned by institutional investors and hedge funds.

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.