LexinFintech (NASDAQ:LX) Sees Strong Trading Volume – What’s Next?

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) saw unusually-strong trading volume on Friday . Approximately 2,073,328 shares traded hands during mid-day trading, an increase of 20% from the previous session’s volume of 1,729,918 shares.The stock last traded at $4.96 and had previously closed at $4.90.

Analysts Set New Price Targets

Separately, Citigroup upgraded LexinFintech from a “neutral” rating to a “buy” rating in a research report on Tuesday.

LexinFintech Trading Up 2.9 %

The business’s 50 day moving average price is $3.21 and its two-hundred day moving average price is $2.25. The company has a market capitalization of $827.22 million, a price-to-earnings ratio of 7.78 and a beta of 0.53. The company has a current ratio of 1.66, a quick ratio of 1.77 and a debt-to-equity ratio of 0.10.

LexinFintech (NASDAQ:LX) last issued its earnings results on Tuesday, August 27th. The company reported $0.19 earnings per share for the quarter. The firm had revenue of $500.98 million for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

Hedge Funds Weigh In On LexinFintech

Large investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of LexinFintech in the first quarter worth $149,000. Kathmere Capital Management LLC bought a new stake in shares of LexinFintech in the 2nd quarter valued at about $36,000. American Century Companies Inc. increased its stake in shares of LexinFintech by 33.2% in the second quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock valued at $501,000 after buying an additional 75,759 shares during the period. Renaissance Technologies LLC raised its holdings in shares of LexinFintech by 5.8% during the second quarter. Renaissance Technologies LLC now owns 1,021,700 shares of the company’s stock valued at $1,686,000 after purchasing an additional 55,700 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of LexinFintech in the 3rd quarter valued at about $122,000.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.