Lufax (NYSE:LU) Downgraded to “Sell” Rating by Wall Street Zen

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

Lufax Stock Down 4.6%

NYSE:LU opened at $2.82 on Friday. Lufax has a 12-month low of $2.30 and a 12-month high of $4.57. The stock’s fifty day simple moving average is $2.70 and its 200-day simple moving average is $2.93. The firm has a market capitalization of $2.44 billion, a P/E ratio of -3.66 and a beta of 0.63.

Lufax (NYSE:LU) last released its earnings results on Tuesday, February 17th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.19). The business had revenue of $724.89 million during the quarter, compared to analysts’ expectations of $761.36 million. As a group, equities research analysts expect that Lufax will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC bought a new stake in Lufax in the second quarter valued at approximately $28,000. May Hill Capital LLC bought a new position in shares of Lufax during the second quarter worth $34,000. Scientech Research LLC acquired a new position in shares of Lufax in the 3rd quarter valued at $46,000. Hudson Bay Capital Management LP bought a new stake in shares of Lufax in the 2nd quarter valued at $58,000. Finally, Headlands Technologies LLC raised its stake in Lufax by 245.1% during the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after buying an additional 19,126 shares during the period. Institutional investors and hedge funds 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.