Lufax (NYSE:LU – Get Rating) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued on Thursday, The Fly reports.
LU has been the subject of a number of other research reports. Daiwa Capital Markets lowered shares of Lufax from a “buy” rating to a “hold” rating in a report on Friday, November 25th. Citigroup decreased their price target on shares of Lufax from $6.06 to $3.52 and set a “buy” rating for the company in a research note on Friday, November 25th. China Renaissance cut Lufax from a “buy” rating to a “hold” rating and set a $3.10 price objective on the stock. in a research note on Thursday, September 29th. JPMorgan Chase & Co. lowered Lufax from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $6.40 to $1.60 in a research report on Friday, November 25th. Finally, Credit Suisse Group cut Lufax from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $1.70 to $1.40 in a report on Friday, November 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Lufax currently has a consensus rating of “Hold” and a consensus target price of $3.29.
Lufax Stock Up 15.5 %
Shares of NYSE LU opened at $1.86 on Thursday. Lufax has a 1 year low of $1.26 and a 1 year high of $7.05. The firm has a 50-day simple moving average of $1.98 and a two-hundred day simple moving average of $4.00. The company has a market cap of $4.25 billion, a P/E ratio of 2.35 and a beta of 0.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.44 and a quick ratio of 1.44.
Hedge Funds Weigh In On Lufax
Several hedge funds and other institutional investors have recently bought and sold shares of LU. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Lufax during the first quarter worth about $663,000. Capital Fund Management S.A. acquired a new position in shares of Lufax in the 1st quarter valued at $1,063,000. Los Angeles Capital Management LLC purchased a new stake in Lufax during the second quarter worth $457,000. Aviva PLC boosted its holdings in Lufax by 56.7% during the second quarter. Aviva PLC now owns 401,200 shares of the company’s stock worth $2,407,000 after buying an additional 145,200 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Lufax in the second quarter valued at $3,187,000. Institutional investors and hedge funds own 15.71% of the company’s stock.
About Lufax
Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore), and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that offers small business owners with lending solutions; and technology empowerment solutions for financial institutions.
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