Lufax Holding Ltd (NYSE:LU) Sees Large Decrease in Short Interest

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

Lufax Stock Down 0.6 %

LU traded down $0.02 during trading on Friday, hitting $2.32. The company's stock had a trading volume of 1,938,361 shares, compared to its average volume of 4,040,726. The business's 50 day simple moving average is $2.83 and its 200-day simple moving average is $3.01. The firm has a market cap of $2.01 billion, a PE ratio of -3.04 and a beta of 0.90. Lufax has a one year low of $2.00 and a one year high of $4.94.

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

Analysts Set New Price Targets

LU has been the subject of several research analyst reports. Bank of America cut their price objective on Lufax from $5.22 to $2.75 and set a "neutral" rating for the company in a report on Friday, August 23rd. Jefferies Financial Group restated a "hold" rating and set a $3.20 price target on shares of Lufax in a research note on Thursday, October 24th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LU. Panagora Asset Management Inc. bought a new position in Lufax in the 2nd quarter worth $26,000. SIH Partners LLLP purchased a new stake in shares of Lufax during the second quarter worth about $65,000. SG Americas Securities LLC bought a new stake in Lufax during the 3rd quarter valued at approximately $66,000. Simplicity Wealth LLC bought a new position in Lufax in the 2nd quarter worth approximately $79,000. Finally, Yeomans Consulting Group Inc. bought a new position in Lufax in the 2nd quarter worth approximately $99,000. 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.