LexinFintech (NASDAQ:LX) Shares Gap Up – Here’s What Happened

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $3.40, but opened at $3.63. LexinFintech shares last traded at $3.68, with a volume of 1,651,281 shares trading hands.

Analyst Ratings Changes

Separately, Citigroup raised shares of LexinFintech from a “neutral” rating to a “buy” rating in a research report on Tuesday.

LexinFintech Price Performance

The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $3.14 and a 200 day moving average of $2.23. The firm has a market capitalization of $804.24 million, a PE ratio of 7.78 and a beta of 0.53.

LexinFintech (NASDAQ:LX) last announced its earnings results on Tuesday, August 27th. The company reported $0.19 EPS for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.62%. The company had revenue of $500.98 million during the quarter.

Institutional Trading of LexinFintech

Several hedge funds have recently added to or reduced their stakes in LX. Wolverine Trading LLC bought a new position in LexinFintech during the third quarter worth about $29,000. Kathmere Capital Management LLC purchased a new stake in shares of LexinFintech during the second quarter worth $36,000. Centiva Capital LP purchased a new stake in shares of LexinFintech during the third quarter worth $41,000. Virtu Financial LLC bought a new stake in shares of LexinFintech during the 3rd quarter valued at $74,000. Finally, SG Americas Securities LLC purchased a new stake in LexinFintech during the 3rd quarter worth about $122,000.

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.