LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) Sees Significant Increase in Short Interest

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 4,616,015 shares, a growth of 94.8% from the August 15th total of 2,369,578 shares. Based on an average trading volume of 3,661,717 shares, the days-to-cover ratio is currently 1.3 days. Currently, 3.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LX shares. Wall Street Zen lowered LexinFintech from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Citigroup downgraded shares of LexinFintech from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $4.38 to $1.20 in a report on Tuesday, September 1st. Finally, Weiss Ratings lowered shares of LexinFintech from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, LexinFintech has a consensus rating of “Reduce” and a consensus price target of $2.35.

Hedge Funds Weigh In On LexinFintech

Several hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its position in LexinFintech by 228.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,562 shares of the company’s stock worth $41,000 after purchasing an additional 8,734 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of LexinFintech by 88.2% during the first quarter. QRG Capital Management Inc. now owns 24,078 shares of the company’s stock valued at $52,000 after buying an additional 11,285 shares during the last quarter. Ariadne Wealth Management LP raised its holdings in shares of LexinFintech by 50.4% during the first quarter. Ariadne Wealth Management LP now owns 24,107 shares of the company’s stock valued at $53,000 after buying an additional 8,080 shares during the last quarter. Alpine Global Management LLC acquired a new position in shares of LexinFintech during the fourth quarter worth approximately $171,000. Finally, Headlands Technologies LLC acquired a new position in shares of LexinFintech during the second quarter worth approximately $181,000.

LexinFintech Stock Performance

LX stock traded up $0.01 during midday trading on Wednesday, reaching $0.80. The company had a trading volume of 1,918,897 shares, compared to its average volume of 2,233,705. The firm has a market capitalization of $134 million, a PE ratio of 0.95 and a beta of 0.86. The stock has a 50 day moving average price of $1.30 and a 200 day moving average price of $1.90. LexinFintech has a fifty-two week low of $0.78 and a fifty-two week high of $5.94. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.15.

LexinFintech (NASDAQ:LX) last released its quarterly earnings data on Friday, August 14th. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $469.10 million during the quarter. LexinFintech had a return on equity of 8.59% and a net margin of 7.94%.

About LexinFintech

LexinFintech Holdings Ltd. is a China-based financial technology company that provides consumer finance and related services through digital platforms. Its business is primarily focused on helping consumers access installment financing and other credit products through online channels.

The company operates Fenqile, an online consumer platform that combines shopping and financial services. Fenqile has offered installment-payment options for merchandise and services, along with personal loans and other consumer credit products.