Lufax (NYSE:LU) Stock Price Up 7.7% – What’s Next?

Shares of Lufax Holding Ltd (NYSE:LU) traded up 7.7% on Tuesday . The stock traded as high as $2.70 and last traded at $2.72. 1,421,065 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 2,367,175 shares. The stock had previously closed at $2.52.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a “hold” rating and set a $3.20 price target on shares of Lufax in a report on Thursday, October 24th.

Lufax Trading Up 6.9 %

The business’s fifty day moving average price is $2.45 and its two-hundred day moving average price is $2.65. The firm has a market cap of $2.34 billion, a P/E ratio of -3.50, a P/E/G ratio of 0.90 and a beta of 0.84.

Lufax (NYSE:LU) last announced its quarterly earnings results on Monday, October 21st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The company 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 quarter in the previous year, the business posted $0.04 EPS. Research analysts predict that Lufax Holding Ltd will post -0.48 EPS for the current fiscal year.

Institutional Trading of Lufax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LU. Charles Schwab Investment Management Inc. boosted its holdings in Lufax by 43.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock valued at $10,829,000 after purchasing an additional 936,048 shares in the last quarter. Caxton Associates LP acquired a new stake in Lufax in the 2nd quarter valued at $2,152,000. Baillie Gifford & Co. grew its position in Lufax by 4.3% in the third quarter. Baillie Gifford & Co. now owns 14,617,105 shares of the company’s stock valued at $51,014,000 after acquiring an additional 605,134 shares during the period. AQR Capital Management LLC acquired a new position in Lufax during the second quarter worth $1,114,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Lufax during the third quarter valued at $1,479,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

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.