LexinFintech (NASDAQ:LX) Shares Gap Up – Time to Buy?

LexinFintech Holdings Ltd. (NASDAQ:LX) shares gapped up before the market opened on Wednesday . The stock had previously closed at $8.50, but opened at $8.95. LexinFintech shares last traded at $9.26, with a volume of 532,694 shares.

Analyst Ratings Changes

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

LexinFintech Stock Up 12.2 %

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 business has a 50-day simple moving average of $7.33 and a two-hundred day simple moving average of $4.73. The stock has a market capitalization of $1.56 billion, a P/E ratio of 15.26 and a beta of 0.60.

Institutional Trading of LexinFintech

Several large investors have recently added to or reduced their stakes in LX. Thurston Springer Miller Herd & Titak Inc. acquired a new position in LexinFintech during the 4th quarter worth about $29,000. Wolverine Trading LLC bought a new stake in shares of LexinFintech during the third quarter valued at approximately $29,000. Centiva Capital LP bought a new position in LexinFintech in the 3rd quarter worth approximately $41,000. Ameriprise Financial Inc. acquired a new position in LexinFintech during the 4th quarter worth $61,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in LexinFintech in the 4th quarter valued at $70,000.

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.