Lufax (NYSE:LU) Hits New 12-Month Low – What’s Next?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) hit a new 52-week low during trading on Wednesday . The stock traded as low as $1.20 and last traded at $1.26, with a volume of 2477679 shares. The stock had previously closed at $1.25.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LU. JPMorgan Chase & Co. began coverage on shares of Lufax in a report on Friday, April 17th. They set a “neutral” rating and a $2.00 price objective on the stock. Wall Street Zen raised shares of Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a report on Monday, May 18th. Finally, Zacks Research upgraded Lufax to a “hold” rating in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $2.00.

Lufax Trading Up 0.8%

The business has a fifty day simple moving average of $1.70 and a two-hundred day simple moving average of $2.22. The company has a market cap of $1.09 billion, a PE ratio of -1.62 and a beta of 0.76.

Lufax (NYSE:LU) last released its earnings results on Monday, March 30th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.19). The firm had revenue of $724.89 million for the quarter, compared to analyst estimates of $761.36 million. Equities analysts expect that Lufax Holding Ltd. Sponsored ADR will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alpine Investment Management Ltd purchased a new stake in Lufax in the 3rd quarter valued at $17,154,000. Yunqi Capital Ltd boosted its position in shares of Lufax by 8.4% during the 3rd quarter. Yunqi Capital Ltd now owns 10,950,138 shares of the company’s stock valued at $44,458,000 after acquiring an additional 852,098 shares during the last quarter. Barometer Capital Management Inc. grew its holdings in shares of Lufax by 77.6% in the third quarter. Barometer Capital Management Inc. now owns 143,500 shares of the company’s stock valued at $583,000 after purchasing an additional 62,700 shares during the period. California Public Employees Retirement System grew its holdings in shares of Lufax by 2.4% in the first quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after purchasing an additional 7,608 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Lufax by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock worth $595,000 after purchasing an additional 14,224 shares during the last quarter. 69.14% of the stock is currently owned by institutional investors and hedge funds.

About Lufax

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.