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

LexinFintech (NASDAQ:LX – Get 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

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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.