Lufax (NYSE:LU) Trading Up 7.7% – Should You Buy?

Lufax Holding Ltd (NYSE:LU)’s share price shot up 7.7% during trading on Tuesday . The stock traded as high as $2.70 and last traded at $2.72. 1,421,065 shares were traded during trading, a decline of 40% from the average session volume of 2,367,175 shares. The stock had previously closed at $2.52.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “hold” rating and issued a $3.20 target price on shares of Lufax in a research note on Thursday, October 24th.

Lufax Stock Performance

The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -3.63, a P/E/G ratio of 0.97 and a beta of 0.84. The firm’s fifty day simple moving average is $2.46 and its 200 day simple moving average is $2.65.

Lufax (NYSE:LU) last posted its quarterly earnings data on Monday, October 21st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.15). Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. The company had revenue of $789.93 million during the quarter. During the same quarter in the prior year, the company earned $0.04 earnings per share. Analysts forecast that Lufax Holding Ltd will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LU. EWA LLC acquired a new position in shares of Lufax during the 3rd quarter worth about $45,000. Soltis Investment Advisors LLC bought a new stake in Lufax during the third quarter worth about $52,000. SG Americas Securities LLC acquired a new position in Lufax during the third quarter valued at approximately $66,000. SIH Partners LLLP bought a new position in Lufax in the second quarter valued at approximately $65,000. Finally, Quantbot Technologies LP acquired a new position in shares of Lufax during the 3rd quarter worth approximately $143,000. 69.14% of the stock is owned by institutional investors and hedge funds.

About Lufax

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.