Lufax (NYSE:LU) Stock Rating Upgraded by Wall Street Zen

Lufax (NYSE:LU) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts have also recently commented on LU. Zacks Research raised Lufax to a “hold” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. initiated coverage on Lufax in a research note on Friday, April 17th. They set a “neutral” rating and a $2.00 price objective for the company. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $2.00.

Lufax Price Performance

Lufax stock opened at $1.95 on Friday. The company has a market capitalization of $1.69 billion, a PE ratio of -2.49 and a beta of 0.81. Lufax has a one year low of $1.73 and a one year high of $4.57. The business has a 50 day simple moving average of $2.07 and a 200 day simple moving average of $2.50.

Lufax (NYSE:LU) last posted its earnings results on Tuesday, February 17th. The company reported ($1.19) EPS for the quarter. The company had revenue of $724.89 million during the quarter. Equities analysts anticipate that Lufax will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lufax

Several institutional investors and hedge funds have recently made changes to their positions in LU. Fulton Bank N.A. acquired a new position in shares of Lufax in the first quarter valued at approximately $27,000. Scientech Research LLC acquired a new position in shares of Lufax in the third quarter valued at approximately $46,000. Hudson Bay Capital Management LP acquired a new position in shares of Lufax in the second quarter valued at approximately $58,000. Headlands Technologies LLC grew its position in Lufax by 245.1% during the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after buying an additional 19,126 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Lufax during the fourth quarter worth approximately $96,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

Trending Headlines about Lufax

Here are the key news stories impacting Lufax this week:

• Neutral Sentiment: Lufax also announced it regained compliance with the NYSE continued listing standard after becoming current with required SEC filings, removing an overhang related to exchange compliance. Lufax Regains Compliance with NYSE Continued Listing Standard
• Negative Sentiment: New and repeated class-action notices suggest investors are actively pursuing claims against Lufax, increasing legal uncertainty and the risk of distraction, costs, or a settlement. Bronstein, Gewirtz & Grossman LLC Urges Lufax Holding Ltd Investors to Act

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.