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

Lufax Holding Ltd (NYSE:LU) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 8,200,000 shares, a drop of 29.1% from the December 15th total of 11,570,000 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 2,910,000 shares, the days-to-cover ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $3.20 price objective on shares of Lufax in a report on Thursday, October 24th.

Lufax Stock Performance

NYSE:LU traded up $0.10 during midday trading on Wednesday, reaching $2.43. 2,542,094 shares of the stock traded hands, compared to its average volume of 2,237,188. The company has a fifty day moving average of $2.46 and a 200 day moving average of $2.66. Lufax has a 12 month low of $2.00 and a 12 month high of $4.94. The stock has a market capitalization of $2.11 billion, a P/E ratio of -3.16 and a beta of 0.84.

Lufax (NYSE:LU) last released its quarterly earnings data on Monday, October 21st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $789.93 million during the quarter. During the same period in the prior year, the business posted $0.04 EPS. On average, analysts predict that Lufax will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Lufax

Several institutional investors and hedge funds have recently modified their holdings of LU. Charles Schwab Investment Management Inc. grew its holdings in shares of Lufax by 43.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock worth $10,829,000 after acquiring an additional 936,048 shares during the period. Caxton Associates LP purchased a new position in Lufax during the 2nd quarter valued at about $2,152,000. Baillie Gifford & Co. boosted its stake in Lufax by 4.3% during the third quarter. Baillie Gifford & Co. now owns 14,617,105 shares of the company’s stock worth $51,014,000 after acquiring an additional 605,134 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Lufax in the 2nd quarter worth approximately $1,114,000. Finally, Public Employees Retirement System of Ohio bought a new position in Lufax during the 3rd quarter valued at approximately $1,479,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

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.