Lufax (NYSE:LU) Stock Price Up 4.2% – Time to Buy?

Shares of Lufax Holding Ltd (NYSE:LU) rose 4.2% during trading on Tuesday . The company traded as high as $2.50 and last traded at $2.49. Approximately 203,621 shares were traded during trading, a decline of 95% from the average daily volume of 3,959,947 shares. The stock had previously closed at $2.39.

Wall Street Analyst Weigh In

LU has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.20 price objective on shares of Lufax in a research note on Thursday, October 24th. Bank of America cut their price target on Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a research note on Friday, August 23rd.

Lufax Trading Up 2.9 %

The firm’s fifty day moving average is $2.87 and its two-hundred day moving average is $2.81.

Lufax (NYSE:LU) last announced its earnings results on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The business had revenue of $789.93 million for the quarter. Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. During the same period in the previous year, the company posted $0.04 earnings per share. As a group, analysts predict that Lufax Holding Ltd will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LU. Simplicity Wealth LLC bought a new position in Lufax during the second quarter valued at $79,000. Baillie Gifford & Co. raised its stake in Lufax by 15.9% in the 2nd quarter. Baillie Gifford & Co. now owns 14,011,971 shares of the company’s stock valued at $33,208,000 after acquiring an additional 1,922,185 shares during the period. Yeomans Consulting Group Inc. bought a new stake in Lufax in the 2nd quarter valued at about $99,000. Panagora Asset Management Inc. bought a new position in Lufax during the second quarter worth about $26,000. Finally, Headlands Technologies LLC increased its stake in shares of Lufax by 1,754.9% in the second quarter. Headlands Technologies LLC now owns 87,996 shares of the company’s stock worth $209,000 after purchasing an additional 83,252 shares in the last quarter. 69.14% of the stock is owned by institutional investors.

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.