Lufax (NYSE:LU) Shares Gap Down – What’s Next?

Lufax Holding Ltd (NYSE:LU)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $3.45, but opened at $3.27. Lufax shares last traded at $3.22, with a volume of 533,613 shares.

Wall Street Analysts Forecast Growth

Separately, Bank of America lowered their price target on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a report on Friday, August 23rd.

Lufax Trading Down 7.0 %

The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -23.00 and a beta of 0.85. The business’s 50-day moving average price is $2.73 and its two-hundred day moving average price is $3.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.63 and a quick ratio of 1.63.

Lufax (NYSE:LU) last issued its quarterly earnings data on Wednesday, August 21st. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.26). Lufax had a negative net margin of 8.70% and a negative return on equity of 2.66%. The business had revenue of $822.36 million for the quarter. During the same period in the previous year, the business posted $0.24 EPS. Equities analysts expect that Lufax Holding Ltd will post -0.09 earnings per share for the current year.

Institutional Trading of Lufax

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Lufax during the first quarter worth $2,649,000. Caxton Associates LP acquired a new stake in Lufax in the 2nd quarter valued at about $2,152,000. Nomura Holdings Inc. boosted its position in Lufax by 2,280.1% during the fourth quarter. Nomura Holdings Inc. now owns 883,009 shares of the company’s stock worth $2,711,000 after purchasing an additional 845,909 shares during the period. Maven Securities LTD increased its stake in shares of 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 purchasing an additional 140,000 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Lufax by 5,000.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,036,225 shares of the company’s stock worth $12,798,000 after purchasing an additional 2,976,693 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

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.