Lufax (NYSE:LU) Stock Price Down 3.3% – Should You Sell?

Lufax Holding Ltd (NYSE:LU)’s share price fell 3.3% during trading on Thursday . The stock traded as low as $2.31 and last traded at $2.33. 62,411 shares changed hands during trading, a decline of 98% from the average session volume of 3,999,499 shares. The stock had previously closed at $2.41.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LU shares. Jefferies Financial Group reissued a “hold” rating and issued a $3.20 price objective on shares of Lufax in a report on Thursday, October 24th. Bank of America cut their target price on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a research note on Friday, August 23rd.

Lufax Stock Down 2.5 %

The business’s fifty day simple moving average is $2.84 and its two-hundred day simple moving average is $2.93.

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 firm had revenue of $789.93 million for the quarter. During the same period in the prior year, the business earned $0.04 EPS. On average, equities research analysts predict that Lufax Holding Ltd will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Lufax

Several hedge funds have recently bought and sold shares of LU. Panagora Asset Management Inc. acquired a new stake in shares of Lufax during the second quarter worth $26,000. EWA LLC bought a new stake in Lufax in the 3rd quarter valued at approximately $45,000. Soltis Investment Advisors LLC acquired a new position in Lufax during the 3rd quarter worth approximately $52,000. SIH Partners LLLP acquired a new stake in shares of Lufax in the second quarter valued at approximately $65,000. Finally, SG Americas Securities LLC bought a new stake in shares of Lufax in the third quarter worth $66,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.

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.