LexinFintech Holdings Ltd – (NASDAQ:LX) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.56 and last traded at $8.75, with a volume of 8440 shares traded. The stock had previously closed at $9.26.
A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of LexinFintech from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 30th. Bank of America decreased their target price on shares of LexinFintech from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 27th. Finally, Goldman Sachs Group raised shares of LexinFintech from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 21st.
The stock has a market cap of $1.45 billion and a price-to-earnings ratio of 36.77. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.13.
A number of institutional investors have recently added to or reduced their stakes in LX. Marshall Wace North America L.P. bought a new position in LexinFintech in the third quarter valued at $149,000. Bank of Montreal Can acquired a new stake in LexinFintech in the third quarter valued at $187,000. Symmetry Peak Management LLC acquired a new stake in LexinFintech in the third quarter valued at $199,000. Raymond James & Associates acquired a new stake in LexinFintech in the second quarter valued at $294,000. Finally, Granite Point Capital Management L.P. lifted its stake in LexinFintech by 151.8% in the third quarter. Granite Point Capital Management L.P. now owns 33,239 shares of the company’s stock valued at $330,000 after acquiring an additional 20,039 shares during the last quarter. 6.71% of the stock is owned by institutional investors and hedge funds.
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About LexinFintech (NASDAQ:LX)
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, an online consumer finance platform that offers personal installment loans, installment purchase loans, and other loan products, as well as Le Card credit line.
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