LexinFintech (NASDAQ:LX) Stock Falls 0.6% – Here’s What Happened

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)’s stock price was down 0.6% during mid-day trading on Monday. The company traded as low as $0.6410 and last traded at $0.6993. Approximately 3,396,020 shares traded hands during trading, an increase of 83% from the average session volume of 1,851,031 shares. The stock had previously closed at $0.7037.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LX. Wall Street Zen lowered shares of LexinFintech from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings downgraded shares of LexinFintech from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Finally, Citigroup cut shares of LexinFintech from a “buy” rating to a “neutral” rating and lowered their target price for the company from $4.38 to $1.20 in a research note on Tuesday, September 1st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $2.35.

LexinFintech Stock Performance

The stock has a market cap of $114.05 million, a P/E ratio of 0.81 and a beta of 0.86. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $0.99 and a two-hundred day moving average price of $1.63.

LexinFintech (NASDAQ:LX) last released its earnings results on Friday, August 14th. The company reported $0.11 earnings per share (EPS) for the quarter. The firm 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%.

Institutional Investors Weigh In On LexinFintech

A number of institutional investors have recently added to or reduced their stakes in the stock. Anatole Investment Management Ltd boosted its holdings in shares of LexinFintech by 79.6% during the 4th quarter. Anatole Investment Management Ltd now owns 4,870,383 shares of the company’s stock valued at $15,926,000 after purchasing an additional 2,159,246 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of LexinFintech by 30.5% during the first quarter. Principal Financial Group Inc. now owns 3,379,109 shares of the company’s stock valued at $7,366,000 after purchasing an additional 788,840 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of LexinFintech by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,779,739 shares of the company’s stock valued at $3,873,000 after purchasing an additional 12,548 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of LexinFintech by 6.7% in the first quarter. Renaissance Technologies LLC now owns 1,328,262 shares of the company’s stock worth $2,896,000 after purchasing an additional 83,362 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of LexinFintech by 191.1% in the fourth quarter. Hsbc Holdings PLC now owns 155,725 shares of the company’s stock worth $505,000 after purchasing an additional 102,232 shares during the last quarter.

LexinFintech Company Profile

LexinFintech Holdings Limited is a China-based fintech company that provides technology-enabled consumer finance services. Through its platforms, the company connects consumers seeking installment-payment and personal-loan products with financial institutions and other funding partners.

Its services have historically included Fenqile, an online consumer finance and installment-shopping platform, as well as technology solutions supporting credit assessment, loan facilitation, risk management and customer services.