Lufax (NYSE:LU) Trading 8.4% Higher

Lufax Holding Ltd (NYSE:LU) shares traded up 8.4% during mid-day trading on Wednesday . The stock traded as high as $4.14 and last traded at $3.98. 1,891,711 shares were traded during mid-day trading, a decline of 55% from the average session volume of 4,182,423 shares. The stock had previously closed at $3.67.

Wall Street Analysts Forecast Growth

Separately, 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.

Lufax Stock Up 9.3 %

The firm has a 50-day moving average of $2.57 and a two-hundred day moving average of $3.26. The firm has a market capitalization of $2.30 billion, a PE ratio of -29.14 and a beta of 0.85. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.08.

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

Institutional Trading of Lufax

A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in Lufax during the 1st quarter worth $2,649,000. Caxton Associates LP bought a new stake in shares of Lufax during the second quarter valued at approximately $2,152,000. Nomura Holdings Inc. raised its position in shares of Lufax by 2,280.1% during the fourth quarter. Nomura Holdings Inc. now owns 883,009 shares of the company’s stock worth $2,711,000 after acquiring an additional 845,909 shares during the last quarter. Acadian Asset Management LLC lifted its position in Lufax by 5,000.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,036,225 shares of the company’s stock valued at $12,798,000 after purchasing an additional 2,976,693 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in Lufax by 98.9% in the first quarter. Baillie Gifford & Co. now owns 12,089,786 shares of the company’s stock valued at $51,019,000 after acquiring an additional 6,012,562 shares during the last quarter. 69.14% of the stock is owned by hedge funds and other institutional investors.

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.