LexinFintech (NASDAQ:LX) Shares Gap Down – Here’s What Happened

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) gapped down before the market opened on Wednesday . The stock had previously closed at $10.59, but opened at $9.85. LexinFintech shares last traded at $10.71, with a volume of 1,199,362 shares traded.

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 1.5 %

The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 17.38 and a beta of 0.60. The business has a 50 day simple moving average of $8.06 and a 200-day simple moving average of $5.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 1.66.

LexinFintech (NASDAQ:LX) last released its quarterly earnings results on Tuesday, March 18th. The company reported $0.28 earnings per share for the quarter. The business had revenue of $501.26 million during the quarter. LexinFintech had a return on equity of 7.47% and a net margin of 5.34%.

Hedge Funds Weigh In On LexinFintech

A number of hedge funds have recently modified their holdings of LX. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of LexinFintech during the 4th quarter worth $29,000. Wolverine Trading LLC purchased a new position in LexinFintech during the 3rd quarter valued at about $29,000. Centiva Capital LP purchased a new position in LexinFintech during the 3rd quarter valued at about $41,000. Ameriprise Financial Inc. purchased a new position in LexinFintech during the 4th quarter valued at about $61,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in LexinFintech during the 4th quarter valued at about $70,000.

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.