Lufax (NYSE:LU) Shares Gap Down – Time to Sell?

Shares of Lufax Holding Ltd (NYSE:LU) gapped down before the market opened on Monday . The stock had previously closed at $2.89, but opened at $2.55. Lufax shares last traded at $2.62, with a volume of 1,982,673 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a “hold” rating and set a $3.20 price objective on shares of Lufax in a research note on Thursday, October 24th.

Lufax Price Performance

The firm has a market capitalization of $2.21 billion, a P/E ratio of -3.32, a P/E/G ratio of 0.99 and a beta of 0.84. The company’s 50-day simple moving average is $2.48 and its two-hundred day simple moving average is $2.65.

Institutional Investors Weigh In On Lufax

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings in Lufax by 14.8% during the 3rd quarter. Franklin Resources Inc. now owns 65,584 shares of the company’s stock valued at $226,000 after buying an additional 8,446 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Lufax by 14.7% during the third quarter. Daiwa Securities Group Inc. now owns 73,275 shares of the company’s stock valued at $256,000 after purchasing an additional 9,400 shares during the last quarter. EWA LLC bought a new stake in shares of Lufax in the 3rd quarter worth about $45,000. JPMorgan Chase & Co. boosted its stake in shares of Lufax by 27.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,235 shares of the company’s stock worth $221,000 after purchasing an additional 13,630 shares during the period. Finally, Soltis Investment Advisors LLC bought a new position in Lufax during the 3rd quarter valued at about $52,000. 69.14% of the stock is owned by institutional investors.

Lufax Company Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.