Lufax (NYSE:LU) Shares Gap Down – Should You Sell?

Lufax Holding Ltd (NYSE:LU) gapped down prior to trading on Tuesday . The stock had previously closed at $3.45, but opened at $3.27. Lufax shares last traded at $3.22, with a volume of 533,613 shares traded.

Analyst Ratings Changes

Separately, Bank of America decreased their target price on Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a research report on Friday, August 23rd.

Lufax Price Performance

The stock has a market cap of $1.84 billion, a PE ratio of -22.96 and a beta of 0.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.63 and a quick ratio of 1.63. The business has a fifty day moving average of $2.75 and a 200 day moving average of $3.24.

Lufax (NYSE:LU) last issued its quarterly earnings results on Wednesday, August 21st. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.26). The business had revenue of $822.36 million during the quarter. Lufax had a negative net margin of 8.70% and a negative return on equity of 2.66%. During the same period in the prior year, the company earned $0.24 earnings per share. Sell-side analysts anticipate that Lufax Holding Ltd will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LU. Nomura Holdings Inc. lifted its holdings in Lufax by 2,280.1% during the 4th quarter. Nomura Holdings Inc. now owns 883,009 shares of the company’s stock worth $2,711,000 after buying an additional 845,909 shares during the last quarter. DGS Capital Management LLC bought a new position in Lufax during the 1st quarter worth approximately $111,000. Diversified Trust Co bought a new position in Lufax during the 1st quarter worth approximately $92,000. Sequoia Financial Advisors LLC bought a new position in Lufax during the 1st quarter worth approximately $60,000. Finally, Baillie Gifford & Co. lifted its holdings in Lufax by 98.9% during the 1st quarter. Baillie Gifford & Co. now owns 12,089,786 shares of the company’s stock worth $51,019,000 after buying an additional 6,012,562 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.