LexinFintech (NASDAQ:LX) Shares Gap Down – Here’s Why

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) gapped down before the market opened on Monday . The stock had previously closed at $5.91, but opened at $5.75. LexinFintech shares last traded at $5.76, with a volume of 948,805 shares trading hands.

Analyst Ratings Changes

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

LexinFintech Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.66 and a quick ratio of 1.66. The firm’s 50-day moving average price is $3.99 and its 200-day moving average price is $2.60. The stock has a market cap of $999.55 million, a P/E ratio of 9.67 and a beta of 0.68.

Institutional Investors Weigh In On LexinFintech

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its position 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 worth $3,013,000 after buying an additional 226,479 shares in the last quarter. Walleye Capital LLC boosted its stake in LexinFintech by 235.5% in the 3rd quarter. Walleye Capital LLC now owns 726,588 shares of the company’s stock worth $1,976,000 after purchasing an additional 510,014 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of LexinFintech during the third quarter valued at $397,000. American Century Companies Inc. grew its stake in LexinFintech by 33.2% during the 2nd quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock valued at $501,000 after purchasing an additional 75,759 shares during the last quarter. Finally, Kathmere Capital Management LLC acquired a new position in LexinFintech in the 2nd quarter worth approximately $36,000.

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.