LexinFintech Holdings Ltd – (NASDAQ:LX) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 704,100 shares, a decline of 8.9% from the June 30th total of 772,600 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 896,100 shares, the days-to-cover ratio is currently 0.8 days.
Several equities analysts recently issued reports on LX shares. Zacks Investment Research upgraded shares of LexinFintech from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, July 26th. China Renaissance Securities reiterated a “buy” rating and set a $18.00 price target on shares of LexinFintech in a research report on Tuesday, May 14th. BNP Paribas upgraded shares of LexinFintech from a “hold” rating to a “buy” rating and set a $12.60 price target on the stock in a research report on Friday, May 10th. Finally, ValuEngine cut shares of LexinFintech from a “hold” rating to a “sell” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $15.15.
Shares of NASDAQ LX traded up $0.49 during midday trading on Friday, hitting $10.67. 588,582 shares of the company traded hands, compared to its average volume of 896,412. LexinFintech has a 12-month low of $6.48 and a 12-month high of $14.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.44 and a current ratio of 1.45. The stock has a 50-day moving average price of $11.06 and a 200 day moving average price of $11.62. The firm has a market cap of $1.70 billion, a P/E ratio of 6.67 and a beta of 1.99.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Segantii Capital Management Ltd grew its holdings in LexinFintech by 16.7% in the second quarter. Segantii Capital Management Ltd now owns 16,030 shares of the company’s stock worth $179,000 after purchasing an additional 2,290 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of LexinFintech during the second quarter valued at approximately $28,000. American Beacon Advisors Inc. purchased a new stake in shares of LexinFintech during the second quarter valued at approximately $33,000. Penserra Capital Management LLC grew its holdings in shares of LexinFintech by 1.7% during the first quarter. Penserra Capital Management LLC now owns 193,159 shares of the company’s stock valued at $2,027,000 after buying an additional 3,157 shares during the last quarter. Finally, Aperio Group LLC purchased a new stake in shares of LexinFintech during the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 16.04% of the company’s stock.
LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young adults in the People's Republic of China. The company operates Fenqile.com, a retail and online consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms.
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