Lufax Holding Ltd (NYSE:LU) Short Interest Update

Posted by on Aug 1st, 2022

Lufax Holding Ltd (NYSE:LU – Get Rating) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 26,090,000 shares, an increase of 36.5% from the June 30th total of 19,120,000 shares. Based on an average trading volume of 8,530,000 shares, the short-interest ratio is presently 3.1 days.

Institutional Investors Weigh In On Lufax

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its holdings in shares of Lufax by 1,344.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company’s stock worth $31,000 after buying an additional 5,299 shares during the period. Acadian Asset Management LLC purchased a new position in Lufax during the 4th quarter worth $42,000. Van ECK Associates Corp increased its holdings in Lufax by 81.5% during the 4th quarter. Van ECK Associates Corp now owns 11,399 shares of the company’s stock worth $64,000 after purchasing an additional 5,119 shares during the period. CIBC Asset Management Inc purchased a new position in Lufax during the 1st quarter worth $64,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Lufax during the 1st quarter worth $68,000. 24.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. CICC Research assumed coverage on Lufax in a research note on Monday, May 9th. They set an “outperform” rating for the company. Daiwa Capital Markets assumed coverage on Lufax in a research note on Wednesday, July 27th. They set a “buy” rating and a $6.40 price target for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Lufax presently has an average rating of “Moderate Buy” and a consensus price target of $8.04.

Lufax Price Performance

NYSE:LU opened at $4.58 on Monday. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 4.24, a PEG ratio of 0.48 and a beta of -0.01. Lufax has a 1 year low of $4.09 and a 1 year high of $9.11. The business has a 50 day simple moving average of $5.79 and a 200-day simple moving average of $5.64. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.43 and a quick ratio of 1.43.

Lufax (NYSE:LU – Get Rating) last posted its quarterly earnings data on Wednesday, May 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.57 billion. Lufax had a return on equity of 18.65% and a net margin of 26.75%. During the same period last year, the company earned $0.30 EPS. Equities analysts forecast that Lufax will post 0.96 EPS for the current year.

About Lufax

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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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