LexinFintech (NASDAQ:LX) Hits New 52-Week Low – Here’s What Happened

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) hit a new 52-week low during trading on Monday . The stock traded as low as $3.15 and last traded at $3.1450, with a volume of 1162942 shares. The stock had previously closed at $3.26.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LX. Wall Street Zen downgraded shares of LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of LexinFintech in a research note on Wednesday, October 8th. Finally, UBS Group downgraded LexinFintech from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $13.60 to $3.50 in a research note on Thursday, December 4th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.50.

LexinFintech Trading Down 3.2%

The firm has a 50-day moving average of $4.21 and a 200 day moving average of $5.75. The company has a market cap of $530.86 million, a P/E ratio of 2.22 and a beta of 0.68. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP acquired a new stake in LexinFintech in the third quarter worth $60,000. PharVision Advisers LLC acquired a new stake in shares of LexinFintech in the 3rd quarter valued at about $607,000. Verition Fund Management LLC bought a new stake in LexinFintech in the 3rd quarter valued at about $128,000. Quarry LP acquired a new position in LexinFintech during the 3rd quarter worth approximately $100,000. Finally, Prelude Capital Management LLC bought a new position in LexinFintech in the third quarter worth approximately $80,000.

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.