LexinFintech (NASDAQ:LX) Reaches New 1-Year High – Here’s Why

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) reached a new 52-week high during trading on Thursday . The stock traded as high as $6.28 and last traded at $6.23, with a volume of 1601402 shares changing hands. The stock had previously closed at $6.04.

Analysts Set New Price Targets

Separately, Citigroup upgraded LexinFintech from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 26th.

LexinFintech Stock Performance

The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 9.78 and a beta of 0.68. The stock has a fifty day moving average price of $4.45 and a two-hundred day moving average price of $2.82.

Institutional Investors Weigh In On LexinFintech

Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of LexinFintech by 33.2% during the second quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock worth $501,000 after purchasing an additional 75,759 shares during the last quarter. Renaissance Technologies LLC lifted its position in LexinFintech by 5.8% during the second quarter. Renaissance Technologies LLC now owns 1,021,700 shares of the company’s stock worth $1,686,000 after buying an additional 55,700 shares during the period. Kathmere Capital Management LLC acquired a new stake in LexinFintech in the 2nd quarter worth about $36,000. SG Americas Securities LLC purchased a new stake in LexinFintech in the 3rd quarter valued at about $122,000. Finally, GSA Capital Partners LLP grew its holdings in LexinFintech by 3.9% in the 3rd quarter. GSA Capital Partners LLP now owns 435,219 shares of the company’s stock valued at $1,184,000 after buying an additional 16,312 shares during the period.

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.