Lufax (NYSE:LU) Trading Up 2.5% – Here’s Why

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) traded up 2.5% on Monday . The company traded as high as $2.75 and last traded at $2.6950. 1,099,314 shares were traded during trading, an increase of 31% from the average session volume of 837,517 shares. The stock had previously closed at $2.63.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Lufax Trading Up 2.5%

The firm has a market capitalization of $2.34 billion, a P/E ratio of -3.50 and a beta of 0.60. The business’s 50 day simple moving average is $2.64 and its two-hundred day simple moving average is $2.95.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Lufax during the second quarter valued at $28,000. May Hill Capital LLC bought a new position in Lufax during the 2nd quarter valued at about $34,000. Scientech Research LLC purchased a new stake in shares of Lufax during the 3rd quarter valued at about $46,000. Hudson Bay Capital Management LP bought a new stake in shares of Lufax in the second quarter worth approximately $58,000. Finally, Headlands Technologies LLC raised its holdings in shares of Lufax by 245.1% during the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock valued at $75,000 after purchasing an additional 19,126 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.