LexinFintech (NASDAQ:LX) Trading Down 4.4% – Here’s What Happened

LexinFintech Holdings Ltd. (NASDAQ:LX)’s stock price was down 4.4% during mid-day trading on Wednesday . The company traded as low as $9.05 and last traded at $8.88. Approximately 573,097 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,209,132 shares. The stock had previously closed at $9.28.

Wall Street Analysts Forecast Growth

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 market capitalization of $1.48 billion, a PE ratio of 14.31 and a beta of 0.60. 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 50-day moving average price of $7.64 and a two-hundred day moving average price of $4.99.

Institutional Investors Weigh In On LexinFintech

Several large investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in LexinFintech during the fourth quarter worth about $29,000. Tower Research Capital LLC TRC lifted its stake in LexinFintech by 146.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company’s stock worth $71,000 after purchasing an additional 7,227 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of LexinFintech by 24.1% in the fourth quarter. QRG Capital Management Inc. now owns 45,124 shares of the company’s stock worth $262,000 after buying an additional 8,752 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of LexinFintech in the fourth quarter worth about $61,000. Finally, Wolverine Trading LLC purchased a new position in shares of LexinFintech in the third quarter worth about $29,000.

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.