LexinFintech (NASDAQ:LX) Rating Lowered to Hold at Wall Street Zen

LexinFintech (NASDAQ:LX) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings cut shares of LexinFintech from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.50.

LexinFintech Stock Up 1.4%

LX stock opened at $1.48 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.02 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $1.92 and its 200 day moving average is $2.36. The stock has a market cap of $247.90 million, a price-to-earnings ratio of 1.29 and a beta of 0.82. LexinFintech has a 1-year low of $1.41 and a 1-year high of $7.17.

Hedge Funds Weigh In On LexinFintech

Several institutional investors have recently modified their holdings of LX. Caitong International Asset Management Co. Ltd raised its holdings in shares of LexinFintech by 150.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,601 shares of the company’s stock valued at $31,000 after buying an additional 5,773 shares in the last quarter. QRG Capital Management Inc. boosted its stake in LexinFintech by 88.2% in the first quarter. QRG Capital Management Inc. now owns 24,078 shares of the company’s stock worth $52,000 after buying an additional 11,285 shares in the last quarter. Ariadne Wealth Management LP boosted its stake in LexinFintech by 50.4% in the first quarter. Ariadne Wealth Management LP now owns 24,107 shares of the company’s stock worth $53,000 after buying an additional 8,080 shares in the last quarter. New York State Common Retirement Fund bought a new position in LexinFintech during the fourth quarter valued at approximately $59,000. Finally, Tower Research Capital LLC TRC raised its stake 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 worth $72,000 after acquiring an additional 7,756 shares in the last quarter.

LexinFintech Company Profile

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.