LexinFintech (NASDAQ:LX) Shares Gap Up – Should You Buy?

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) gapped up prior to trading on Tuesday . The stock had previously closed at $3.40, but opened at $3.63. LexinFintech shares last traded at $3.68, with a volume of 1,651,281 shares traded.

Analysts Set New Price Targets

Separately, Citigroup raised LexinFintech from a “neutral” rating to a “buy” rating in a report on Tuesday.

LexinFintech Price Performance

The business’s fifty day moving average price is $3.14 and its 200-day moving average price is $2.23. The company has a market capitalization of $804.24 million, a P/E ratio of 7.78 and a beta of 0.53. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.22.

LexinFintech (NASDAQ:LX) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $0.19 earnings per share for the quarter. LexinFintech had a return on equity of 7.62% and a net margin of 5.34%. The company had revenue of $500.98 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LX. Wolverine Trading LLC purchased a new stake in LexinFintech during the 3rd quarter valued at $29,000. Centiva Capital LP bought a new position in LexinFintech during the 3rd quarter valued at approximately $41,000. GSA Capital Partners LLP lifted its holdings in LexinFintech by 3.9% in the 3rd quarter. GSA Capital Partners LLP now owns 435,219 shares of the company’s stock worth $1,184,000 after buying an additional 16,312 shares during the period. Kathmere Capital Management LLC bought a new stake in shares of LexinFintech in the 2nd quarter worth approximately $36,000. Finally, Virtu Financial LLC bought a new position in shares of LexinFintech during the third quarter valued at approximately $74,000.

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.