Lufax (NYSE:LU) Shares Down 4.5%

Shares of Lufax Holding Ltd (NYSE:LU) dropped 4.5% on Tuesday . The stock traded as low as $2.76 and last traded at $2.76. Approximately 599,901 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 4,707,872 shares. The stock had previously closed at $2.89.

Lufax Stock Performance

The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -19.64, a price-to-earnings-growth ratio of 0.38 and a beta of 0.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.70 and a current ratio of 1.70. The stock’s fifty day moving average is $2.99 and its two-hundred day moving average is $3.26.

Lufax (NYSE:LU) last announced its earnings results on Monday, April 22nd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.28). Lufax had a negative net margin of 2.17% and a negative return on equity of 0.72%. The business had revenue of $964.47 million for the quarter. Analysts forecast that Lufax Holding Ltd will post 0.21 earnings per share for the current year.

Hedge Funds Weigh In On Lufax

A number of institutional investors have recently made changes to their positions in LU. Yeomans Consulting Group Inc. acquired a new stake in shares of Lufax in the 2nd quarter valued at about $99,000. Baillie Gifford & Co. raised its stake in Lufax by 15.9% during the second quarter. Baillie Gifford & Co. now owns 14,011,971 shares of the company’s stock valued at $33,208,000 after buying an additional 1,922,185 shares in the last quarter. Simplicity Wealth LLC bought a new position in Lufax during the 2nd quarter worth approximately $79,000. Bayesian Capital Management LP acquired a new position in shares of Lufax in the 1st quarter worth approximately $178,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Lufax in the 1st quarter worth approximately $1,865,000. 69.14% of the stock is owned by institutional investors and hedge funds.

About Lufax

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.