Lufax (NYSE:LU) Shares Gap Down – Should You Sell?

Lufax Holding Ltd (NYSE:LU)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $2.92, but opened at $2.80. Lufax shares last traded at $2.81, with a volume of 640,589 shares trading hands.

Analyst Ratings Changes

A number of research firms have commented on LU. Bank of America reduced their price target on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. Jefferies Financial Group restated a “hold” rating and issued a $3.20 price target on shares of Lufax in a research report on Thursday, October 24th.

Lufax Stock Down 6.2 %

The stock’s 50-day moving average price is $2.83 and its 200-day moving average price is $2.73. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -3.69 and a beta of 0.85.

Lufax (NYSE:LU) last announced its earnings results on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $789.93 million for the quarter. During the same quarter last year, the firm earned $0.04 EPS. On average, equities research analysts anticipate that Lufax Holding Ltd will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Lufax

Institutional investors and hedge funds have recently modified their holdings of the business. Panagora Asset Management Inc. bought a new stake in Lufax in the second quarter valued at approximately $26,000. EWA LLC bought a new stake in Lufax in the third quarter valued at approximately $45,000. Soltis Investment Advisors LLC bought a new stake in Lufax in the third quarter valued at approximately $52,000. SIH Partners LLLP bought a new stake in Lufax in the second quarter valued at approximately $65,000. Finally, SG Americas Securities LLC bought a new stake in Lufax in the third quarter valued at approximately $66,000. 69.14% of the stock is owned by institutional investors.

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.