LexinFintech (NASDAQ:LX) Sees Strong Trading Volume – Should You Buy?

LexinFintech Holdings Ltd. (NASDAQ:LX) shares saw unusually-high trading volume on Tuesday . Approximately 653,594 shares changed hands during mid-day trading, a decline of 60% from the previous session’s volume of 1,628,810 shares.The stock last traded at $6.33 and had previously closed at $5.90.

Analysts Set New Price Targets

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

LexinFintech Stock Up 9.7 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market cap of $1.06 billion, a PE ratio of 10.27 and a beta of 0.63. The business’s 50 day moving average price is $5.02 and its 200 day moving average price is $3.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of LexinFintech by 25.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,107,663 shares of the company’s stock valued at $3,013,000 after purchasing an additional 226,479 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of LexinFintech in the 3rd quarter worth $467,000. Walleye Capital LLC boosted its position in shares of 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 last quarter. Quadrature Capital Ltd purchased a new stake in shares of LexinFintech in the third quarter valued at about $397,000. Finally, Jane Street Group LLC increased its position in LexinFintech by 32.9% during the third quarter. Jane Street Group LLC now owns 266,547 shares of the company’s stock worth $725,000 after purchasing an additional 65,964 shares during 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.