LexinFintech (NASDAQ:LX) Reaches New 12-Month High – What’s Next?

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $9.82 and last traded at $9.81, with a volume of 5039973 shares changing hands. The stock had previously closed at $8.50.

Analysts Set New Price Targets

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

LexinFintech Stock Up 15.4 %

The company has a market cap of $1.61 billion, a PE ratio of 15.57 and a beta of 0.60. The business has a fifty day simple moving average of $7.40 and a two-hundred day simple moving average of $4.76. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On LexinFintech

Several hedge funds and other institutional investors have recently modified their holdings of the business. BRIGHT VALLEY CAPITAL Ltd acquired a new position in LexinFintech during the fourth quarter worth $23,142,000. Arrowstreet Capital Limited Partnership boosted its position in shares of LexinFintech by 237.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,703,154 shares of the company’s stock valued at $21,478,000 after acquiring an additional 2,606,969 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of LexinFintech in the fourth quarter valued at about $7,687,000. Schonfeld Strategic Advisors LLC acquired a new stake in LexinFintech during the fourth quarter worth about $7,510,000. Finally, Barclays PLC purchased a new position in LexinFintech during the fourth quarter worth about $7,131,000.

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.