Lufax (NYSE:LU) Shares Gap Down – Should You Sell?

Lufax Holding Ltd (NYSE:LU) gapped down before the market opened on Monday . The stock had previously closed at $2.89, but opened at $2.55. Lufax shares last traded at $2.62, with a volume of 1,982,673 shares changing hands.

Analyst Upgrades and Downgrades

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

Lufax Stock Performance

The company has a fifty day moving average of $2.48 and a two-hundred day moving average of $2.65. The company has a market cap of $2.01 billion, a PE ratio of -3.01, a price-to-earnings-growth ratio of 0.99 and a beta of 0.84.

Institutional Trading of Lufax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Lufax by 102.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,600 shares of the company’s stock worth $40,000 after purchasing an additional 8,382 shares during the last quarter. EWA LLC purchased a new stake in Lufax in the 3rd quarter valued at about $45,000. Soltis Investment Advisors LLC bought a new position in Lufax in the 3rd quarter worth about $52,000. SG Americas Securities LLC purchased a new position in shares of Lufax during the third quarter worth approximately $66,000. Finally, Quantbot Technologies LP bought a new stake in shares of Lufax during the third quarter valued at approximately $143,000. 69.14% of the stock is owned by hedge funds and other 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.