Short Interest in LexinFintech Holdings Ltd – (NASDAQ:LX) Declines By 8.9%

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.

LexinFintech (NASDAQ:LX) last announced its quarterly earnings data on Friday, May 17th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.19. The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.90 billion. LexinFintech had a net margin of 27.22% and a return on equity of 59.67%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. As a group, equities analysts expect that LexinFintech will post 1.83 earnings per share for the current year.

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.

About LexinFintech

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.

Featured Article: Strike Price

Receive News & Ratings for LexinFintech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LexinFintech and related companies with MarketBeat.com's FREE daily email newsletter.