Lufax (NYSE:LU) Shares Up 5.3% – What’s Next?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) shares shot up 5.3% during trading on Friday. The company traded as high as $6.87 and last traded at $6.93. Approximately 116,098 shares traded hands during trading, a decline of 26% from the average daily volume of 156,213 shares. The stock had previously closed at $6.58.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LU. Zacks Research raised Lufax from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a research note on Wednesday. Deutsche Bank set a $14.00 target price on Lufax and gave the stock a “hold” rating in a research report on Thursday, August 27th. Wall Street Zen lowered shares of Lufax from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 7th. Finally, JPMorgan Chase & Co. upgraded shares of Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lufax has a consensus rating of “Hold” and an average price target of $17.00.

Lufax Trading Up 7.8%

The stock’s 50-day moving average price is $10.10 and its 200 day moving average price is $16.37. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market capitalization of $614.49 million, a PE ratio of -1.59 and a beta of 0.80.

Lufax (NYSE:LU) last announced its quarterly earnings results on Wednesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.81 by ($11.08). The company had revenue of $921.68 million during the quarter, compared to analysts’ expectations of $2.22 billion. On average, sell-side analysts expect that Lufax Holding Ltd. Sponsored ADR will post -1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Lufax

Several institutional investors have recently made changes to their positions in the company. Barometer Capital Management Inc. raised its holdings in shares of Lufax by 7,538.6% in the first quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock valued at $1,000,000 after acquiring an additional 527,700 shares in the last quarter. California Public Employees Retirement System grew its holdings in Lufax by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock worth $615,000 after acquiring an additional 7,608 shares in the last quarter. Bank of New York Mellon Corp increased its position in Lufax by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock valued at $595,000 after purchasing an additional 14,224 shares during the period. Public Employees Retirement System of Ohio increased its position in Lufax by 2.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after purchasing an additional 6,600 shares during the period. Finally, Ramsey Quantitative Systems purchased a new position in Lufax during the 2nd quarter valued at about $199,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About Lufax

Lufax Holding Ltd. is a China-based financial technology company that provides technology-enabled financial services. Its platform connects individual and small-business borrowers with financial institutions and other funding partners, helping customers access credit and related services. The company also offers wealth management services, including access to investment products for retail customers. Lufax was established in 2011 as part of Ping An Insurance Group and has developed its business around China’s financial services market.