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

Shares of Lufax Holding Ltd (NYSE:LU) shot up 4.2% during trading on Friday . The stock traded as high as $2.78 and last traded at $2.75. 1,728,809 shares traded hands during trading, a decline of 56% from the average session volume of 3,942,341 shares. The stock had previously closed at $2.64.

Wall Street Analyst Weigh In

Several brokerages have commented on LU. Bank of America lowered their price target on Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $3.20 price objective on shares of Lufax in a research report on Thursday, October 24th.

Lufax Stock Up 4.9 %

The company has a market capitalization of $2.40 billion, a P/E ratio of -3.57 and a beta of 0.85. The firm has a 50-day moving average price of $2.76 and a two-hundred day moving average price of $2.72.

Lufax (NYSE:LU) last issued its 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 firm had revenue of $789.93 million during the quarter. Lufax had a negative return on equity of 3.63% and a negative net margin of 12.75%. During the same period in the prior year, the business posted $0.04 earnings per share. On average, analysts predict that Lufax Holding Ltd will post -0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Caxton Associates LP acquired a new position in Lufax during the second quarter worth $2,152,000. Maven Securities LTD raised its stake in Lufax by 350.0% during the second quarter. Maven Securities LTD now owns 180,000 shares of the company’s stock worth $427,000 after acquiring an additional 140,000 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Lufax by 15.9% in the second quarter. Baillie Gifford & Co. now owns 14,011,971 shares of the company’s stock valued at $33,208,000 after buying an additional 1,922,185 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Lufax by 43.2% in 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 buying an additional 936,048 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Lufax in the second quarter valued at $1,114,000. 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.