Lufax (NYSE:LU) Shares Gap Up - Still a Buy?

Lufax Holding Ltd (NYSE:LU - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $3.01, but opened at $3.19. Lufax shares last traded at $3.20, with a volume of 380,312 shares.

Wall Street Analysts Forecast Growth

Separately, Bank of America lowered their price target on Lufax from $5.22 to $2.75 and set a "neutral" rating for the company in a report on Friday, August 23rd.

Lufax Price Performance

The business's 50-day simple moving average is $2.76 and its two-hundred day simple moving average is $3.23. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -22.57 and a beta of 0.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.63 and a quick ratio of 1.63.

Lufax (NYSE:LU - Get Free Report) last released its quarterly earnings data 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 net margin of 8.70% and a negative return on equity of 2.66%. The firm had revenue of $822.36 million for the quarter. During the same quarter last year, the business posted $0.24 earnings per share. Research analysts expect that Lufax Holding Ltd will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. acquired a new position in Lufax during the 2nd quarter worth about $26,000. Sequoia Financial Advisors LLC acquired a new position in shares of Lufax in the first quarter worth approximately $60,000. SIH Partners LLLP bought a new stake in Lufax in the second quarter valued at approximately $65,000. SG Americas Securities LLC acquired a new stake in Lufax during the 3rd quarter valued at approximately $66,000. Finally, PDS Planning Inc bought a new position in Lufax during the 1st quarter worth approximately $78,000. Institutional investors and hedge funds own 69.14% of the company's stock.

Lufax Company Profile

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.