Lufax (NYSE:LU) Shares Gap Down – Time to Sell?

Lufax Holding Ltd (NYSE:LU)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $2.89, but opened at $2.55. Lufax shares last traded at $2.62, with a volume of 1,982,673 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a “hold” rating and set a $3.20 target price on shares of Lufax in a research note on Thursday, October 24th.

Lufax Trading Down 7.0 %

The stock has a 50 day simple moving average of $2.48 and a 200-day simple moving average of $2.65. The firm has a market cap of $2.01 billion, a PE ratio of -3.01, a price-to-earnings-growth ratio of 0.99 and a beta of 0.84.

Institutional Trading of Lufax

Several institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in Lufax by 102.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,600 shares of the company’s stock worth $40,000 after purchasing an additional 8,382 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Lufax by 27.5% in the third quarter. JPMorgan Chase & Co. now owns 63,235 shares of the company’s stock worth $221,000 after buying an additional 13,630 shares in the last quarter. Franklin Resources Inc. boosted its stake in Lufax by 14.8% during the third quarter. Franklin Resources Inc. now owns 65,584 shares of the company’s stock valued at $226,000 after buying an additional 8,446 shares during the last quarter. Soltis Investment Advisors LLC purchased a new position in Lufax during the 3rd quarter valued at approximately $52,000. Finally, Geode Capital Management LLC increased its stake in Lufax by 35.7% in the 3rd quarter. Geode Capital Management LLC now owns 123,616 shares of the company’s stock worth $431,000 after acquiring an additional 32,536 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.