Lufax (NYSE:LU) Sets New 1-Year Low After Earnings Miss

Lufax Holding Ltd. Sponsored ADR (NYSE:LU)’s stock price reached a new 52-week low on Wednesday following a dissappointing earnings announcement. The company traded as low as $2.29 and last traded at $2.3050, with a volume of 1156132 shares traded. The stock had previously closed at $2.39.

The company reported ($1.19) EPS for the quarter. The business had revenue of $724.89 million during the quarter.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Lufax presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. HRT Financial LP grew its stake in Lufax by 4.2% in the 4th quarter. HRT Financial LP now owns 109,823 shares of the company’s stock valued at $281,000 after acquiring an additional 4,453 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Lufax by 2.4% in the third quarter. Franklin Resources Inc. now owns 222,929 shares of the company’s stock valued at $905,000 after purchasing an additional 5,209 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Lufax by 3.9% in the second quarter. Geode Capital Management LLC now owns 143,238 shares of the company’s stock valued at $400,000 after purchasing an additional 5,417 shares during the last quarter. Profund Advisors LLC grew its position in shares of Lufax by 26.1% in the third quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock valued at $129,000 after purchasing an additional 6,565 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Lufax by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,343,505 shares of the company’s stock worth $3,990,000 after purchasing an additional 8,236 shares in the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Lufax Stock Performance

The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -2.93 and a beta of 0.64. The company has a 50-day moving average of $2.67 and a 200-day moving average of $2.90.

About Lufax

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.