Lufax (NYSE:LU) Stock Price Increases by 7% - Should Investors Consider Buying?

Lufax Holding Ltd (NYSE:LU) has seen its stock price rise by 7% during trading hours on Friday, reaching as high as $3.14 before settling at $3.15. During this period, a total of 785,651 shares were exchanged, reflecting a significant drop of 77% from the average trading volume of 3,343,612 shares. Previously, the stock had closed at $2.94.

Analyst Ratings Changes

On October 24, Jefferies Financial Group reiterated a "hold" rating for Lufax and set a target price of $3.20 per share in their research report.

Lufax Price Performance

The company’s 50-day moving average stands at $2.51, while its 200-day moving average is at $2.62. Lufax has a market capitalization of approximately $2.67 billion. Its price-to-earnings (P/E) ratio is -3.98, and it has a beta of 0.84, indicating a relatively stable performance in comparison to the overall market.

Institutional Inflows and Outflows

Several institutional investors have adjusted their stakes in Lufax recently. Baillie Gifford & Co. increased its holdings by 4.3%, now owning around 14.6 million shares valued at approximately $51 million after purchasing an additional 605,134 shares. Furthermore, JPMorgan Chase & Co. raised its position by 27.5% with an ownership of 63,235 shares now worth around $221,000 following the acquisition of 13,630 more shares. Charles Schwab Investment Management has significantly increased its shares by 43.2%, holding 3.1 million shares valued at about $10.8 million after purchasing an extra 936,048 shares. Additionally, State Street Corp expanded its stake by 3.2%, now possessing 4.96 million shares worth approximately $17.3 million. Finally, the Public Employees Retirement System of Ohio acquired a new position in Lufax valued at $1.48 million. In total, institutional investors and hedge funds own 69.14% of the company's stock.

About Lufax

Lufax Holding Ltd operates as a financial service provider in China, primarily focusing on empowering small and micro businesses. The company offers various loan products, including general unsecured loans, secured loans, and consumer finance loans. In addition, it provides wealth management solutions such as asset management plans, mutual funds, private investment funds, and trust products.

Should You Invest in Lufax Now?

Before making any investment decisions regarding Lufax, it may be beneficial to review current market analyses. While Lufax has been given a "hold" rating by analysts, there may be better investment opportunities available.

Lufax, Stocks, Investing