Lufax (NYSE:LU) Reaches New 1-Year Low – Should You Sell?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $1.4750 and last traded at $1.4850, with a volume of 800355 shares trading hands. The stock had previously closed at $1.55.

Analyst Ratings Changes

A number of brokerages have commented on LU. JPMorgan Chase & Co. began coverage on shares of Lufax in a research note on Friday, April 17th. They issued a “neutral” rating and a $2.00 price objective for the company. Wall Street Zen raised shares of Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research raised shares of Lufax to a “hold” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research note on Monday, May 18th. Two equities research 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, the company presently has an average rating of “Reduce” and an average price target of $2.00.

Lufax Trading Down 6.8%

The business’s 50 day moving average is $1.84 and its 200 day moving average is $2.32. The stock has a market capitalization of $1.25 billion, a PE ratio of -1.85 and a beta of 0.76.

Lufax (NYSE:LU) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($1.19) earnings per share (EPS) for the quarter. The business had revenue of $724.89 million for the quarter. As a group, analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Lufax

Large investors have recently modified their holdings of the business. Scientech Research LLC bought a new stake in shares of Lufax in the 3rd quarter valued at about $46,000. Fulton Bank N.A. bought a new stake in shares of Lufax in the 1st quarter valued at about $27,000. Hudson Bay Capital Management LP bought a new stake in shares of Lufax in the 2nd quarter valued at about $58,000. Headlands Technologies LLC raised its holdings in shares of Lufax by 245.1% in the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock valued at $75,000 after purchasing an additional 19,126 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in shares of Lufax by 26.1% in the 3rd quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock valued at $129,000 after purchasing an additional 6,565 shares in the last quarter. Institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.