LexinFintech (NASDAQ:LX) Reaches New 12-Month High – Time to Buy?

LexinFintech Holdings Ltd. (NASDAQ:LX) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $9.09 and last traded at $8.84, with a volume of 716300 shares traded. The stock had previously closed at $8.73.

Analysts Set New Price Targets

Separately, Citigroup upgraded LexinFintech from a “neutral” rating to a “buy” rating in a report on Tuesday, November 26th.

LexinFintech Price Performance

The firm has a fifty day moving average of $6.90 and a 200 day moving average of $4.30. The company has a market capitalization of $1.54 billion, a P/E ratio of 14.86 and a beta of 0.66. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10.

LexinFintech (NASDAQ:LX) last released its quarterly earnings data on Monday, November 25th. The company reported $0.26 EPS for the quarter. LexinFintech had a return on equity of 7.47% and a net margin of 5.34%.

Institutional Investors Weigh In On LexinFintech

Large investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of LexinFintech by 25.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,107,663 shares of the company’s stock valued at $3,013,000 after purchasing an additional 226,479 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of LexinFintech during the 3rd quarter valued at approximately $467,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of LexinFintech during the 4th quarter valued at approximately $445,000. Walleye Capital LLC grew its stake in shares of LexinFintech by 235.5% during the 3rd quarter. Walleye Capital LLC now owns 726,588 shares of the company’s stock valued at $1,976,000 after acquiring an additional 510,014 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of LexinFintech during the 3rd quarter valued at approximately $397,000.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.