Lufax (NYSE:LU) Shares Up 5.3% – Still a Buy?

Lufax Holding Ltd (NYSE:LU) shares were up 5.3% on Tuesday . The company traded as high as $3.23 and last traded at $3.19. Approximately 961,523 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 4,184,902 shares. The stock had previously closed at $3.03.

Wall Street Analysts Forecast Growth

Separately, Bank of America lowered their target price on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, August 23rd.

Lufax Price Performance

The stock has a market cap of $1.76 billion, a PE ratio of -22.86 and a beta of 0.85. The firm’s fifty day moving average price is $2.77 and its 200 day moving average price is $3.20. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.08.

Lufax (NYSE:LU) last released its quarterly earnings data on Monday, October 21st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The company had revenue of $789.93 million for the quarter. Lufax had a negative net margin of 8.70% and a negative return on equity of 2.66%. During the same period in the previous year, the business earned $0.04 earnings per share. As a group, equities analysts expect that Lufax Holding Ltd will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Panagora Asset Management Inc. purchased a new stake in Lufax during the second quarter valued at $26,000. Sequoia Financial Advisors LLC bought a new position in shares of Lufax in the 1st quarter valued at about $60,000. SIH Partners LLLP purchased a new position in Lufax in the second quarter worth about $65,000. SG Americas Securities LLC bought a new stake in Lufax during the third quarter worth approximately $66,000. Finally, PDS Planning Inc bought a new stake in shares of Lufax in the 1st quarter valued at approximately $78,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

About Lufax

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.