LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) Sees Large Decrease in Short Interest

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 3,443,617 shares, a drop of 34.5% from the June 15th total of 5,256,817 shares. Based on an average daily volume of 1,607,645 shares, the short-interest ratio is presently 2.1 days. Approximately 2.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On LexinFintech

A number of hedge funds have recently added to or reduced their stakes in LX. State Street Corp lifted its position in shares of LexinFintech by 0.3% during the 4th quarter. State Street Corp now owns 1,126,561 shares of the company’s stock worth $3,684,000 after buying an additional 3,666 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of LexinFintech by 150.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,601 shares of the company’s stock valued at $31,000 after acquiring an additional 5,773 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of LexinFintech by 350.5% during the second quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock valued at $72,000 after acquiring an additional 7,756 shares during the last quarter. Ariadne Wealth Management LP increased its position in shares of LexinFintech by 50.4% during the first quarter. Ariadne Wealth Management LP now owns 24,107 shares of the company’s stock valued at $53,000 after acquiring an additional 8,080 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of LexinFintech by 9.0% during the first quarter. California Public Employees Retirement System now owns 131,329 shares of the company’s stock valued at $286,000 after acquiring an additional 10,843 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on LX shares. Wall Street Zen upgraded shares of LexinFintech from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Weiss Ratings cut shares of LexinFintech from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, LexinFintech currently has a consensus rating of “Hold” and an average price target of $3.50.

LexinFintech Trading Up 1.3%

NASDAQ:LX opened at $1.54 on Friday. The business’s 50-day moving average is $1.97 and its two-hundred day moving average is $2.42. The firm has a market capitalization of $257.95 million, a PE ratio of 1.34 and a beta of 0.82. LexinFintech has a 12 month low of $1.41 and a 12 month high of $7.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 2.02.

About LexinFintech

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.