Sunday, June 26, 2022

Taking a Closer Look At Lufax Holding Ltd (LU) Following Its Recent Trade

CLSA downgraded its Lufax Holding Ltd [LU] rating to an Outperform from a a Buy in a research note published on Tuesday, May 27, 2022; the price target was decreased to $6.80 from $8. PT values the company’s stock at a premium of -0.29 to its Tuesday closing price. A number of analysts have revised their coverage, including Macquarie’s analysts, who decreased its forecast for the stock in early March from “an Outperform” to “a Neutral”. Bernstein also remained covering LU and has increased its forecast on November 02, 2021 with a “Mkt perform” recommendation from previously “an Underperform” rating. Morgan Stanley revised its rating on August 11, 2021. It rated LU as “an Overweight” which previously was an “an Equal-weight”.


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Price Performance Review of LU

On Tuesday, Lufax Holding Ltd [NYSE:LU] saw its stock jump 6.40% to $6.82. On the same session, the stock had its day’s lowest price of $6.36, but rose to a high of $7.05. Over the last five days, the stock has gained 12.73%. Lufax Holding Ltd shares have risen nearly 21.14% since the year began. Nevertheless, the stocks have fallen -44.24% over the past one year. While a 52-week high of $12.72 was reached on 06/21/22, a 52-week low of $4.09 was recorded on 03/14/22. SMA at 50 days reached $5.74, while 200 days put it at $6.11. A total of 17.43 million shares were traded, compared to the trading of 5.87 million shares in the previous session.

Levels Of Support And Resistance For LU Stock

The 24-hour chart illustrates a support level at 6.44, which if violated will result in even more drops to 6.05. On the upside, there is a resistance level at 7.13. A further resistance level may holdings at 7.43. The Relative Strength Index (RSI) on the 14-day chart is 67.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 16.20%. Stochastics %K at 79.93% indicates the stock is a holding.

Lufax Holding Ltd [LU] – Who Are The Largest Shareholders?

In filings from Capital Research & Management Co, it is revealed that the company now owns 56,470,472 shares, or roughly 2.47% of the outstanding LU shares. In other words, the investor’s shares have risen by 3,341,655 from its previous 13-F filing of 53128817.0. Additionally, Capital Research & Management Co decreased -43.00% of its stake after which the total value it holdings stand at $203,657,897, while Baillie Gifford & Co. reduced -3.95% of its stake to hold $160.08 million in the firm. Over the last quarter, Farallon Capital Management LLC purchased 3,015,000 shares of Lufax Holding Ltd, while Alpha Square Group S LLC bought 0 shares. At present, Krane Funds Advisors LLC is holding 19,176,937 shares valued at $120.62 million. BlackRock Fund Advisors owned 17,985,261 shares of the company at the time of its most recent 13F filing, worth $113.13 million.

According to FactSet, Lufax Holding Ltd’s share price will average $54.38 in the next year, based on opinions of analysts polled by the firm. This is up nearly 716.54 percent from its previous closing price of $6.41. Analysts expect Lufax Holding Ltd stock to reach the higher price of $73.81, while the lowest price estimate is $34.77. However, 15 analysts have rated LU stock as a Buy in their predictions for 2022.

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