LexinFintech (NASDAQ:LX) Trading Up 5.3% – Here’s What Happened

LexinFintech Holdings Ltd. (NASDAQ:LX)’s stock price shot up 5.3% during mid-day trading on Monday . The stock traded as high as $5.95 and last traded at $5.95. 640,539 shares were traded during mid-day trading, a decline of 57% from the average session volume of 1,496,891 shares. The stock had previously closed at $5.65.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised LexinFintech from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 26th.

LexinFintech Stock Performance

The stock has a fifty day simple moving average of $4.97 and a two-hundred day simple moving average of $3.13. The stock has a market cap of $968.37 million, a price-to-earnings ratio of 9.37 and a beta of 0.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 1.66.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LX. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of LexinFintech by 25.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,107,663 shares of the company’s stock worth $3,013,000 after purchasing an additional 226,479 shares during the period. Renaissance Technologies LLC raised its holdings in shares of LexinFintech by 5.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,021,700 shares of the company’s stock worth $1,686,000 after purchasing an additional 55,700 shares during the period. Walleye Capital LLC raised its holdings in LexinFintech by 235.5% during the 3rd quarter. Walleye Capital LLC now owns 726,588 shares of the company’s stock valued at $1,976,000 after acquiring an additional 510,014 shares during the period. GSA Capital Partners LLP raised its holdings in LexinFintech by 3.9% during the 3rd quarter. GSA Capital Partners LLP now owns 435,219 shares of the company’s stock valued at $1,184,000 after acquiring an additional 16,312 shares during the period. Finally, American Century Companies Inc. grew its position in shares of LexinFintech by 33.2% during the 2nd quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock valued at $501,000 after purchasing an additional 75,759 shares in the last quarter.

About LexinFintech

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.