Lufax (NYSE:LU) Stock Price Up 1% – Time to Buy?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s share price rose 1% during mid-day trading on Monday . The stock traded as high as $2.74 and last traded at $2.6450. Approximately 2,350,736 shares were traded during trading, an increase of 50% from the average daily volume of 1,570,800 shares. The stock had previously closed at $2.62.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, Lufax has a consensus rating of “Sell”.

Lufax Price Performance

The company has a market capitalization of $2.29 billion, a P/E ratio of -3.44 and a beta of 0.57. The firm has a fifty day moving average price of $3.08 and a 200-day moving average price of $2.99.

Institutional Investors Weigh In On Lufax

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in Lufax by 19.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,011,130 shares of the company’s stock valued at $14,883,000 after buying an additional 805,292 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Lufax by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 70,969 shares of the company’s stock valued at $211,000 after acquiring an additional 7,122 shares during the last quarter. Invesco Ltd. boosted its stake in Lufax by 6.4% in the first quarter. Invesco Ltd. now owns 641,947 shares of the company’s stock valued at $1,907,000 after acquiring an additional 38,868 shares during the last quarter. Nuveen LLC bought a new position in shares of Lufax during the 1st quarter valued at approximately $14,432,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Lufax during the 1st quarter worth approximately $101,000. 69.14% of the stock is currently owned by institutional investors.

Lufax Company Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.