LexinFintech (NASDAQ:LX) Shares Gap Up – Time to Buy?

LexinFintech Holdings Ltd. (NASDAQ:LX)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $7.78, but opened at $7.99. LexinFintech shares last traded at $8.14, with a volume of 740,939 shares changing hands.

Analyst Ratings Changes

Separately, Citigroup upgraded shares of LexinFintech from a “neutral” rating to a “buy” rating in a report on Tuesday, November 26th.

LexinFintech Trading Up 4.1 %

The stock’s fifty day moving average price is $6.51 and its 200 day moving average price is $4.00. The stock has a market cap of $1.33 billion, a PE ratio of 12.74 and a beta of 0.66. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.10.

LexinFintech (NASDAQ:LX) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.26 earnings per share for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

Institutional Trading of LexinFintech

Several institutional investors and hedge funds have recently modified their holdings of the company. Schroder Investment Management Group bought a new stake in shares of LexinFintech during the 4th quarter valued at $5,301,000. Arrowstreet Capital Limited Partnership increased its holdings in LexinFintech by 237.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,703,154 shares of the company’s stock valued at $21,478,000 after acquiring an additional 2,606,969 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in LexinFintech in the 4th quarter valued at $70,000. JPMorgan Chase & Co. bought a new stake in LexinFintech in the 4th quarter valued at $7,687,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in LexinFintech by 64.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 41,567 shares of the company’s stock valued at $254,000 after acquiring an additional 16,274 shares during the last quarter.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.