LexinFintech Holdings Ltd. (NASDAQ:LX) Sees Significant Drop in Short Interest

LexinFintech Holdings Ltd. (NASDAQ:LXGet Rating) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 798,000 shares, a decrease of 47.5% from the April 30th total of 1,520,000 shares. Based on an average daily trading volume, of 2,090,000 shares, the short-interest ratio is currently 0.4 days.

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA bought a new position in shares of LexinFintech in the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC boosted its position in shares of LexinFintech by 17,909.3% in the fourth quarter. Quadrant Capital Group LLC now owns 7,744 shares of the company’s stock valued at $30,000 after acquiring an additional 7,701 shares during the period. NTB Financial Corp bought a new position in shares of LexinFintech in the fourth quarter valued at approximately $44,000. Sei Investments Co. purchased a new stake in LexinFintech in the first quarter valued at approximately $31,000. Finally, Davy Global Fund Management Ltd purchased a new stake in LexinFintech in the fourth quarter valued at approximately $50,000. Institutional investors own 31.56% of the company’s stock.

Shares of LX stock traded up $0.05 on Friday, hitting $2.37. The stock had a trading volume of 924,887 shares, compared to its average volume of 1,925,837. LexinFintech has a 12-month low of $1.90 and a 12-month high of $13.62. The business has a 50 day moving average of $2.56 and a 200 day moving average of $3.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market cap of $435.77 million, a price-to-earnings ratio of 1.35 and a beta of 0.72.

LexinFintech (NASDAQ:LXGet Rating) last issued its earnings results on Tuesday, March 15th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The business had revenue of $345.10 million for the quarter. LexinFintech had a return on equity of 32.63% and a net margin of 20.47%. During the same period in the previous year, the company earned $0.39 EPS. As a group, research analysts expect that LexinFintech will post 1.65 earnings per share for the current fiscal year.

Separately, Zacks Investment Research downgraded shares of LexinFintech from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, LexinFintech currently has a consensus rating of “Hold” and an average price target of $9.85.

About LexinFintech (Get Rating)

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumption and consumer finance platform for young professionals in the People's Republic of China. The company operates Fenqile.com, a consumption and consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms; and Le Card, a membership platform, which offers savings, benefits, and membership privileges to food and beverage, apparel, hospitality, and leisure sectors.

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