Lufax Holding Ltd (NYSE: LU) was the target of significant growth in overdraft interest in October. As of October 29, there was short interest totaling 24,600,000 shares, an increase of 46.6% over the October 14 total of 16,780,000 shares. Based on an average trading volume of 7,480,000 shares, the short-term interest rate is currently 3.3 days.
A number of brokerage firms weighed in on LU. The Goldman Sachs group downgraded Lufax from a “buy” rating to a “neutral” rating and lowered its target price for the share from $ 20.30 to $ 9.80 in a research report released on Monday August 2. Zacks investment research downgraded Lufax from a “buy” rating to a “conservation” rating in a research report released Wednesday. Sanford C. Bernstein downgraded Lufax from an “underperformance” rating to a “market performance” rating and set a price target of $ 6.00 on the stock in a research report released on Tuesday, November 2. Finally, Morgan Stanley downgraded Lufax from a “peer-to-peer” rating to an “overweight” rating and lowered its target price for the company from $ 14.80 to $ 13.00 in a research report released on Tuesday. August 10. Five research analysts rated the stock with a conservation rating and eight gave the stock a buy rating. According to MarketBeat, Lufax currently has an average rating of “Buy” and an average price target of $ 14.84.
Several institutional investors and hedge funds have recently changed their positions in the company. American Century Companies Inc. increased its stake in Lufax shares by 5.9% in the 2nd quarter. American Century Companies Inc. now owns 25,561 shares of the company valued at $ 289,000 after acquiring 1,422 additional shares in the last quarter. Bank of New York Mellon Corp increased its stake in Lufax shares by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 184,243 shares of the company valued at $ 2,676,000 after acquiring an additional 1,769 shares in the last quarter. GSA Capital Partners LLP raised its stake in Lufax shares by 9.9% in the 3rd quarter. GSA Capital Partners LLP now owns 28,907 shares of the company valued at $ 202,000 after acquiring an additional 2,603 shares in the last quarter. Souders Financial Advisors increased its stake in Lufax shares by 9.6% in the second quarter. Souders Financial Advisors now owns 39,795 shares of the company valued at $ 450,000 after acquiring 3,499 additional shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Lufax shares by 19.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 22,866 shares of the company valued at $ 159,000 after acquiring an additional 3,699 shares during the last quarter. Institutional investors hold 9.15% of the company’s shares.
NYSE LU opened for $ 6.86 on Friday. The company has a fifty-day moving average price of $ 7.10 and a two hundred-day moving average price of $ 9.10. The company has a leverage ratio of 0.12, a current ratio of 1.54, and a quick ratio of 1.54. Lufax has a fifty-two week minimum of $ 6.05 and a fifty-two week maximum of $ 18.30. The stock has a market cap of $ 16.89 billion and a PE ratio of 6.60.
Lufax (NYSE: LU) last released its results on Tuesday, November 9. The company reported earnings per share of $ 0.26 for the quarter, missing the consensus estimate of $ 1.56 ($ 1.30). Lufax had a return on equity of 19.55% and a net margin of 28.26%. As a group, sell-side analysts expect Lufax to post earnings per share of 1.05 for the current year.
Lufax Company Profile
Lufax Holding Ltd operates a technology-based personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer credit loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore) and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that provides small business owners with lending solutions; and technology empowerment solutions for financial institutions.
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