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

Lufax Holding Ltd (NYSE:LU) gapped up before the market opened on Friday . The stock had previously closed at $3.01, but opened at $3.19. Lufax shares last traded at $3.20, with a volume of 380,312 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Bank of America cut their target price 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 Stock Up 5.0 %

The company has a market capitalization of $1.81 billion, a P/E ratio of -22.86 and a beta of 0.85. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $2.75 and its 200 day moving average is $3.23.

Lufax (NYSE:LU) last posted its earnings results 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 return on equity of 2.66% and a negative net margin of 8.70%. The firm had revenue of $822.36 million for the quarter. During the same period in the prior year, the company posted $0.24 EPS. Research analysts predict that Lufax Holding Ltd will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. purchased a new position in shares of Lufax during the second quarter valued at about $26,000. Sequoia Financial Advisors LLC bought a new position in shares of Lufax in the 1st quarter worth approximately $60,000. PDS Planning Inc purchased a new position in shares of Lufax in the 1st quarter valued at approximately $78,000. SG Americas Securities LLC bought a new stake in shares of Lufax during the third quarter valued at approximately $66,000. Finally, Diversified Trust Co purchased a new stake in Lufax in the first quarter worth $92,000. 69.14% of the stock is currently 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.