LexinFintech (NASDAQ:LX) Shares Gap Up – Here’s Why

LexinFintech Holdings Ltd. (NASDAQ:LX) shares gapped up prior to trading on Wednesday . The stock had previously closed at $8.07, but opened at $8.67. LexinFintech shares last traded at $8.92, with a volume of 2,411,730 shares changing hands.

Analyst Ratings Changes

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

LexinFintech Stock Up 14.7 %

The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 14.72 and a beta of 0.66. The firm has a 50 day moving average price of $7.05 and a two-hundred day moving average price of $4.48. 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 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%.

Institutional Investors Weigh In On LexinFintech

Hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in LexinFintech in the fourth quarter valued at $29,000. Tower Research Capital LLC TRC raised its stake in shares of LexinFintech by 146.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company’s stock valued at $71,000 after acquiring an additional 7,227 shares during the last quarter. QRG Capital Management Inc. lifted its position in LexinFintech by 24.1% during the fourth quarter. QRG Capital Management Inc. now owns 45,124 shares of the company’s stock valued at $262,000 after buying an additional 8,752 shares during the period. Ameriprise Financial Inc. bought a new position in shares of LexinFintech in the fourth quarter worth approximately $61,000. Finally, Wolverine Trading LLC bought a new position in LexinFintech in the third quarter valued at about $29,000.

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.