LexinFintech (NASDAQ:LX) Shares Up 6.4% – Here’s Why

LexinFintech Holdings Ltd. (NASDAQ:LX)’s stock price rose 6.4% during trading on Friday . The stock traded as high as $7.04 and last traded at $7.00. Approximately 653,941 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 2,078,732 shares. The stock had previously closed at $6.58.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded LexinFintech from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 26th.

LexinFintech Price Performance

The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 12.11 and a beta of 0.63. The stock’s fifty day moving average price is $5.60 and its two-hundred day moving average price is $3.47. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10.

LexinFintech (NASDAQ:LX) last announced its quarterly earnings results on Monday, November 25th. The company reported $0.26 earnings per share (EPS) for the quarter. LexinFintech had a return on equity of 7.47% and a net margin of 5.34%.

Institutional Trading of LexinFintech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of LexinFintech in the 4th quarter valued at $29,000. Wolverine Trading LLC acquired a new stake in shares of LexinFintech during the third quarter worth about $29,000. Kathmere Capital Management LLC purchased a new stake in shares of LexinFintech in the 4th quarter valued at about $79,000. Centiva Capital LP acquired a new stake in shares of LexinFintech in the 3rd quarter valued at about $41,000. Finally, GSA Capital Partners LLP grew its stake in LexinFintech by 3.9% during 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 last quarter.

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.