LexinFintech (NASDAQ:LX) Shares Gap Down – Here’s What Happened

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price gapped down prior to trading on Monday . The stock had previously closed at $5.91, but opened at $5.75. LexinFintech shares last traded at $5.76, with a volume of 948,805 shares trading hands.

Analysts Set New Price Targets

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

LexinFintech Trading Up 5.4 %

The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average price of $3.99 and a two-hundred day moving average price of $2.60. The firm has a market capitalization of $999.55 million, a price-to-earnings ratio of 9.67 and a beta of 0.68.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wolverine Trading LLC acquired a new position in shares of LexinFintech in the third quarter worth $29,000. Centiva Capital LP acquired a new stake in shares of LexinFintech in the 3rd quarter valued at about $41,000. GSA Capital Partners LLP raised its position in LexinFintech by 3.9% in the 3rd quarter. GSA Capital Partners LLP now owns 435,219 shares of the company’s stock valued at $1,184,000 after purchasing an additional 16,312 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in LexinFintech during the 2nd quarter worth $36,000. Finally, Virtu Financial LLC acquired a new stake in LexinFintech during the 3rd quarter worth approximately $74,000.

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.