Lufax (NYSE:LU) Shares Gap Up – Time to Buy?

Lufax Holding Ltd (NYSE:LU) shares gapped up prior to trading on Monday . The stock had previously closed at $3.19, but opened at $3.33. Lufax shares last traded at $3.26, with a volume of 560,647 shares trading hands.

Lufax Stock Performance

The company has a fifty day simple moving average of $2.75 and a two-hundred day simple moving average of $2.69. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -4.16 and a beta of 0.77.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. grew its stake in shares of Lufax by 0.3% during the 4th quarter. Baillie Gifford & Co. now owns 14,667,069 shares of the company’s stock valued at $35,054,000 after buying an additional 49,964 shares during the period. Vanguard Group Inc. grew its stake in shares of Lufax by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,143,366 shares of the company’s stock valued at $17,073,000 after buying an additional 70,181 shares during the period. State Street Corp grew its stake in shares of Lufax by 3.2% during the 3rd quarter. State Street Corp now owns 4,960,609 shares of the company’s stock valued at $17,313,000 after buying an additional 155,006 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Lufax by 35.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,205,838 shares of the company’s stock valued at $10,052,000 after buying an additional 1,102,943 shares during the period. Finally, Tiger Pacific Capital LP purchased a new stake in shares of Lufax during the 4th quarter valued at $9,409,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.

About Lufax

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.