LexinFintech (NASDAQ:LX) Shares Down 9.9%

LexinFintech Holdings Ltd – (NASDAQ:LX)’s share price dropped 9.9% during mid-day trading on Wednesday . The stock traded as low as $6.95 and last traded at $7.01. Approximately 4,409,279 shares were traded during trading, an increase of 131% from the average daily volume of 1,907,885 shares. The stock had previously closed at $7.78.

LX has been the subject of a number of research reports. Nomura decreased their price target on shares of LexinFintech from $16.59 to $13.29 in a research report on Tuesday, May 26th. ValuEngine upgraded shares of LexinFintech from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. TheStreet downgraded shares of LexinFintech from a “c-” rating to a “d+” rating in a research report on Thursday, September 3rd. CLSA assumed coverage on shares of LexinFintech in a research report on Thursday, July 16th. They issued an “outperform” rating and a $13.00 target price for the company. Finally, Citigroup upgraded shares of LexinFintech from a “neutral” rating to a “buy” rating in a report on Tuesday, June 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $14.17.

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.26. The company’s 50-day moving average price is $8.04 and its two-hundred day moving average price is $9.16. The company has a market capitalization of $1.23 billion, a P/E ratio of 10.16 and a beta of 1.24.

LexinFintech (NASDAQ:LX) last posted its earnings results on Tuesday, August 18th. The company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.53 billion. LexinFintech had a return on equity of 18.53% and a net margin of 8.34%. The firm’s revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company posted $3.69 EPS. On average, analysts anticipate that LexinFintech Holdings Ltd – will post 0.64 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley raised its stake in LexinFintech by 86.5% in the 1st quarter. Morgan Stanley now owns 3,883,259 shares of the company’s stock valued at $34,445,000 after acquiring an additional 1,800,745 shares during the period. Vanguard Group Inc. raised its holdings in LexinFintech by 46.1% in the second quarter. Vanguard Group Inc. now owns 3,374,289 shares of the company’s stock worth $35,903,000 after purchasing an additional 1,064,258 shares in the last quarter. Oasis Management Co Ltd. purchased a new stake in shares of LexinFintech in the first quarter worth $4,436,000. Citigroup Inc. grew its stake in shares of LexinFintech by 966.8% in the first quarter. Citigroup Inc. now owns 515,830 shares of the company’s stock worth $4,575,000 after acquiring an additional 467,476 shares during the last quarter. Finally, Krane Funds Advisors LLC boosted its position in shares of LexinFintech by 32.9% during the first quarter. Krane Funds Advisors LLC now owns 1,657,378 shares of the company’s stock valued at $14,701,000 after buying an additional 409,860 shares during the last quarter. 22.80% of the stock is owned by institutional investors and hedge funds.

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.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.

Recommended Story: Dow Jones Industrial Average (DJIA)

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.