LexinFintech (NASDAQ:LX) Trading Down 4.1% – What’s Next?

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price dropped 4.1% during mid-day trading on Thursday . The stock traded as low as $6.43 and last traded at $6.41. Approximately 491,630 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 2,080,459 shares. The stock had previously closed at $6.68.

Wall Street Analysts Forecast Growth

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

LexinFintech Stock Down 3.1 %

The stock has a 50 day moving average price of $5.44 and a 200 day moving average price of $3.39. The company has a market cap of $1.06 billion, a P/E ratio of 10.28 and a beta of 0.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 1.66.

LexinFintech (NASDAQ:LX) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.26 EPS for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

Institutional Investors Weigh In On LexinFintech

Institutional investors and hedge funds have recently modified their holdings of the stock. Walleye Capital LLC boosted its position in shares of LexinFintech by 235.5% in the 3rd quarter. Walleye Capital LLC now owns 726,588 shares of the company’s stock valued at $1,976,000 after purchasing an additional 510,014 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of LexinFintech by 25.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,107,663 shares of the company’s stock worth $3,013,000 after buying an additional 226,479 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of LexinFintech in the third quarter worth about $467,000. Quadrature Capital Ltd acquired a new position in shares of LexinFintech in the third quarter worth about $397,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of LexinFintech during the fourth quarter valued at approximately $445,000.

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.