LexinFintech (NASDAQ:LX) Reaches New 12-Month High – Time to Buy?

LexinFintech Holdings Ltd. (NASDAQ:LX) hit a new 52-week high during trading on Wednesday . The company traded as high as $9.09 and last traded at $8.84, with a volume of 716300 shares trading hands. The stock had previously closed at $8.73.

Analyst Upgrades and Downgrades

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

LexinFintech Price 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 stock has a market cap of $1.54 billion, a P/E ratio of 14.86 and a beta of 0.66. The firm’s fifty day moving average price is $6.90 and its 200-day moving average price is $4.30.

LexinFintech (NASDAQ:LX) last issued its earnings results on Monday, November 25th. The company reported $0.26 earnings per share (EPS) 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in LX. BRIGHT VALLEY CAPITAL Ltd purchased a new position in LexinFintech during the fourth quarter valued at $23,142,000. Arrowstreet Capital Limited Partnership lifted its position in LexinFintech by 237.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,703,154 shares of the company’s stock valued at $21,478,000 after buying an additional 2,606,969 shares during the period. JPMorgan Chase & Co. purchased a new position in LexinFintech during the fourth quarter valued at $7,687,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of LexinFintech in the 4th quarter worth about $7,510,000. Finally, Barclays PLC purchased a new position in shares of LexinFintech in the 4th quarter worth about $7,131,000.

About LexinFintech

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.