LexinFintech (NASDAQ:LX) Sees Strong Trading Volume – Here’s Why

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) saw an uptick in trading volume on Thursday . 4,238,152 shares traded hands during trading, an increase of 56% from the previous session’s volume of 2,719,645 shares.The stock last traded at $9.07 and had previously closed at $8.72.

Analyst Upgrades and Downgrades

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

LexinFintech Trading Up 4.7 %

The company has a market cap of $1.54 billion, a P/E ratio of 14.86 and a beta of 0.66. The stock’s 50 day moving average is $6.90 and its 200-day moving average is $4.30. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10.

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

Hedge Funds Weigh In On LexinFintech

Hedge funds have recently bought and sold shares of the business. Wolverine Trading LLC purchased a new stake in shares of LexinFintech during the 3rd quarter valued at about $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of LexinFintech during the 4th quarter valued at about $29,000. Centiva Capital LP purchased a new stake in shares of LexinFintech during the 3rd quarter valued at about $41,000. Ameriprise Financial Inc. purchased a new stake in shares of LexinFintech during the 4th quarter valued at about $61,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of LexinFintech during the 4th quarter valued at about $70,000.

LexinFintech Company Profile

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.