LexinFintech (NASDAQ:LX) Trading Down 4.4% – Here’s What Happened

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) dropped 4.4% on Wednesday . The company traded as low as $9.05 and last traded at $8.88. Approximately 573,097 shares were traded during trading, a decline of 82% from the average daily volume of 3,209,132 shares. The stock had previously closed at $9.28.

Wall Street Analyst Weigh In

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 price of $7.64 and a two-hundred day moving average price of $4.99. The stock has a market capitalization of $1.48 billion, a P/E ratio of 14.31 and a beta of 0.60. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 1.66.

Institutional Trading of LexinFintech

Several institutional investors have recently added to or reduced their stakes in LX. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of LexinFintech during the fourth quarter worth approximately $29,000. Tower Research Capital LLC TRC lifted its stake in shares of LexinFintech by 146.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company’s stock worth $71,000 after buying an additional 7,227 shares during the period. QRG Capital Management Inc. grew its holdings in shares of LexinFintech by 24.1% during the fourth quarter. QRG Capital Management Inc. now owns 45,124 shares of the company’s stock valued at $262,000 after buying an additional 8,752 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of LexinFintech during the fourth quarter valued at $61,000. Finally, Wolverine Trading LLC purchased a new stake in LexinFintech in the third quarter valued at $29,000.

LexinFintech Company Profile

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.