LexinFintech (NASDAQ:LX) Upgraded to “Buy” by Citigroup

LexinFintech (NASDAQ:LXGet Rating) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat reports. The firm presently has a $3.60 price objective on the stock. Citigroup’s price target would indicate a potential upside of 59.29% from the company’s previous close.

Other research analysts have also recently issued reports about the company. CLSA raised LexinFintech from a “reduce” rating to an “accumulate” rating in a research report on Monday, November 14th. UBS Group raised shares of LexinFintech from a “neutral” rating to a “buy” rating in a report on Wednesday, February 1st.

LexinFintech Stock Down 0.4 %

LX stock traded down $0.01 during trading on Tuesday, hitting $2.26. 412,849 shares of the stock traded hands, compared to its average volume of 893,588. The firm’s 50 day moving average is $3.03 and its two-hundred day moving average is $2.20. LexinFintech has a 1 year low of $1.26 and a 1 year high of $3.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.42 and a quick ratio of 1.46. The stock has a market cap of $415.55 million, a price-to-earnings ratio of 3.49 and a beta of 0.70.

Institutional Investors Weigh In On LexinFintech

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. bought a new stake in shares of LexinFintech during the 1st quarter worth approximately $31,000. Northern Trust Corp bought a new stake in shares of LexinFintech during the first quarter worth $35,000. US Bancorp DE boosted its stake in shares of LexinFintech by 2,334.1% during the third quarter. US Bancorp DE now owns 21,907 shares of the company’s stock valued at $37,000 after purchasing an additional 21,007 shares during the period. Mackenzie Financial Corp bought a new position in shares of LexinFintech in the fourth quarter worth about $43,000. Finally, Vident Investment Advisory LLC increased its stake in LexinFintech by 88.8% in the 4th quarter. Vident Investment Advisory LLC now owns 25,422 shares of the company’s stock worth $48,000 after buying an additional 11,959 shares during the period. Hedge funds and other institutional investors own 14.97% of the company’s stock.

LexinFintech Company Profile

(Get Rating)

Lexinfintech Holdings Ltd. engages in the provision of online consumer finance platforms. Through its subsidiaries, it provides online direct sales with installment payment terms; installment purchase loans; and personal installment loans. Its services are offered though its online consumer finance platform, www.fenqile.com; and mobile application.

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