Short Interest in Lufax Holding Ltd (NYSE:LU) Expands By 19.8%

Lufax Holding Ltd (NYSE:LU) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 9,540,000 shares, a growth of 19.8% from the January 15th total of 7,960,000 shares. Based on an average trading volume of 3,180,000 shares, the days-to-cover ratio is currently 3.0 days. Currently, 1.1% of the shares of the stock are short sold.

Lufax Trading Up 5.3 %

Shares of LU stock traded up $0.15 during trading hours on Monday, hitting $2.89. The company’s stock had a trading volume of 5,665,314 shares, compared to its average volume of 3,205,443. The business has a fifty day moving average of $2.50 and a 200-day moving average of $2.62. Lufax has a twelve month low of $2.00 and a twelve month high of $4.94. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -3.75 and a beta of 0.84.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Lufax

A number of large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its position in Lufax by 4.3% during the third quarter. Baillie Gifford & Co. now owns 14,617,105 shares of the company’s stock worth $51,014,000 after acquiring an additional 605,134 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Lufax by 27.5% during the third quarter. JPMorgan Chase & Co. now owns 63,235 shares of the company’s stock worth $221,000 after purchasing an additional 13,630 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Lufax by 43.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock valued at $10,829,000 after purchasing an additional 936,048 shares during the period. State Street Corp increased its stake in Lufax by 3.2% in the third quarter. State Street Corp now owns 4,960,609 shares of the company’s stock valued at $17,313,000 after purchasing an additional 155,006 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Lufax during the third quarter worth about $1,479,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

About Lufax

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.