Lufax (NYSE:LU) Shares Gap Down – What’s Next?

Lufax Holding Ltd (NYSE:LU)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $2.34, but opened at $2.25. Lufax shares last traded at $2.29, with a volume of 224,830 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LU shares. Bank of America lowered their target price on Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a research note on Friday, August 23rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.20 price objective on shares of Lufax in a research report on Thursday, October 24th.

Lufax Trading Down 1.3 %

The company has a market capitalization of $2.00 billion, a PE ratio of -3.04 and a beta of 0.90. The business’s 50-day simple moving average is $2.85 and its two-hundred day simple moving average is $2.93.

Lufax (NYSE:LU) last issued its quarterly earnings data on Monday, October 21st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. The business had revenue of $789.93 million for the quarter. During the same period in the previous year, the business posted $0.04 EPS. On average, analysts forecast that Lufax Holding Ltd will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LU. Panagora Asset Management Inc. acquired a new position in shares of Lufax in the 2nd quarter valued at about $26,000. EWA LLC acquired a new stake in Lufax in the 3rd quarter valued at approximately $45,000. Soltis Investment Advisors LLC bought a new stake in shares of Lufax during the third quarter valued at about $52,000. SIH Partners LLLP acquired a new stake in shares of Lufax in the 2nd quarter worth approximately $65,000. Finally, SG Americas Securities LLC bought a new stake in shares of Lufax in the 3rd quarter worth $66,000. Institutional investors own 69.14% of the company’s stock.

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.