LexinFintech (NASDAQ:LX) Trading Up 5.2% – Here’s Why

LexinFintech Holdings Ltd. (NASDAQ:LX) shares traded up 5.2% during mid-day trading on Tuesday . The company traded as high as $6.14 and last traded at $6.08. 2,196,043 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 1,869,932 shares. The stock had previously closed at $5.78.

Analyst Upgrades and Downgrades

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

LexinFintech Stock Up 1.6 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 1.66. The stock’s 50 day moving average price is $4.04 and its 200-day moving average price is $2.62. The company has a market cap of $956.88 million, a PE ratio of 9.25 and a beta of 0.68.

Hedge Funds Weigh In On LexinFintech

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wolverine Trading LLC bought a new position in shares of LexinFintech during the third quarter valued at about $29,000. Kathmere Capital Management LLC purchased a new position in LexinFintech during the 2nd quarter valued at about $36,000. Centiva Capital LP bought a new position in LexinFintech during the 3rd quarter valued at approximately $41,000. Virtu Financial LLC bought a new position in LexinFintech during the 3rd quarter valued at approximately $74,000. Finally, SG Americas Securities LLC purchased a new stake in LexinFintech in the 3rd quarter worth approximately $122,000.

LexinFintech Company Profile

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.