Lufax Holding Ltd (NYSE:LU) Short Interest Down 25.2% in October

Lufax Holding Ltd (NYSE:LU) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 5,320,000 shares, a drop of 25.2% from the October 15th total of 7,110,000 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 3,150,000 shares, the days-to-cover ratio is currently 1.7 days.

Lufax Trading Down 2.9 %

Shares of LU stock opened at $2.34 on Friday. Lufax has a twelve month low of $2.00 and a twelve month high of $4.94. The company has a market capitalization of $2.03 billion, a PE ratio of -3.04 and a beta of 0.90. The firm has a fifty day simple moving average of $2.83 and a 200-day simple moving average of $3.01.

Lufax (NYSE:LU) last announced its earnings results on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). The business had revenue of $789.93 million for the quarter. Lufax had a negative return on equity of 3.63% and a negative net margin of 12.75%. During the same quarter last year, the firm posted $0.04 earnings per share. Equities research analysts predict that Lufax will post -0.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LU. Jefferies Financial Group restated a “hold” rating and set a $3.20 target price on shares of Lufax in a report on Thursday, October 24th. 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.

Institutional Trading of Lufax

Hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its position in shares of Lufax by 4.3% in the 3rd 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 in the last quarter. Yunqi Capital Ltd increased its stake in Lufax by 39.4% during the first quarter. Yunqi Capital Ltd now owns 7,092,640 shares of the company’s stock valued at $29,931,000 after purchasing an additional 2,002,873 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Lufax by 43.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock worth $10,829,000 after purchasing an additional 936,048 shares during the period. Acadian Asset Management LLC lifted its position in shares of Lufax by 5,000.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,036,225 shares of the company’s stock worth $12,798,000 after buying an additional 2,976,693 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Lufax by 6.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,688,219 shares of the company’s stock valued at $6,371,000 after buying an additional 152,025 shares during the period. Institutional investors and hedge funds 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.