LexinFintech (NASDAQ:LX) Trading 6.7% Higher – Should You Buy?

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) shot up 6.7% during mid-day trading on Friday . The stock traded as high as $9.56 and last traded at $9.54. 2,532,350 shares were traded during trading, a decline of 11% from the average session volume of 2,847,383 shares. The stock had previously closed at $8.94.

Analyst Ratings Changes

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

LexinFintech Stock Up 4.7 %

The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.54 billion, a PE ratio of 14.86 and a beta of 0.66. The business has a 50-day moving average price of $6.97 and a 200-day moving average price of $4.37.

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

Hedge Funds Weigh In On LexinFintech

A number of institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in LexinFintech during the fourth quarter worth about $29,000. Tower Research Capital LLC TRC lifted its holdings in LexinFintech by 146.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company’s stock valued at $71,000 after acquiring an additional 7,227 shares during the last quarter. QRG Capital Management Inc. grew its position in LexinFintech by 24.1% in the fourth quarter. QRG Capital Management Inc. now owns 45,124 shares of the company’s stock worth $262,000 after acquiring an additional 8,752 shares during the period. Ameriprise Financial Inc. acquired a new stake in LexinFintech during the fourth quarter worth $61,000. Finally, Wolverine Trading LLC purchased a new stake in LexinFintech in the third quarter valued at $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.