Taking this into account, JP Morgan downgraded its Lufax Holding Ltd [LU] rating to an Underweight from a an Overweight in a research note published on Tuesday, November 25, 2022; the price target was decreased to $1.60 from $6.40. PT values the company’s stock at a premium of -35.0 to its Tuesday closing price. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who decreased its forecast for the stock in late November from “a Buy” to “a Hold”. Credit Suisse also remained covering LU and has decreased its forecast on November 25, 2022 with a “an Underperform” recommendation from previously “Neutral” rating. CLSA revised its rating on November 15, 2022. It rated LU as “a Buy” which previously was an “a Sell”.
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Price Performance Review of LU
On Tuesday, Lufax Holding Ltd [NYSE:LU] saw its stock fall -1.82% to $2.16. On the same session, the stock had its day’s lowest price of $2.14, but rose to a high of $2.23. Over the last five days, the stock has lost -6.09%. Lufax Holding Ltd shares have risen nearly 11.34% since the year began. Nevertheless, the stocks have fallen -67.27% over the past one year. While a 52-week high of $7.05 was reached on 02/02/23, a 52-week low of $1.26 was recorded on 01/03/23. SMA at 50 days reached $2.49, while 200 days put it at $3.51. A total of 9.74 million shares were traded, compared to the trading of 7.45 million shares in the previous session.
Levels Of Support And Resistance For LU Stock
The 24-hour chart illustrates a support level at 2.12, which if violated will result in even more drops to 2.09. On the upside, there is a resistance level at 2.21. A further resistance level may holdings at 2.27. The Relative Strength Index (RSI) on the 14-day chart is 35.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.26%. Stochastics %K at 5.28% indicates the stock is a buying.
How much short interest is there in Lufax Holding Ltd?
A steep rise in short interest was recorded in Lufax Holding Ltd stocks on Jan 30, 2023, growing by 12.96 million shares to a total of 40.75 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 27.79 million shares. There was a rise of 31.8%, which implies that there is a positive sentiment for the stock.
Lufax Holding Ltd [LU] – Who Are The Largest Shareholders?
In filings from Farallon Capital Management LLC, it is revealed that the company now owns 38,436,399 shares, or roughly 1.68% of the outstanding LU shares. In other words, the investor’s shares have risen by 17,900,000 from its previous 13-F filing of 20536399.0. Additionally, Krane Funds Advisors LLC increased 16.94% of its stake after which the total value it holdings stand at $102,732,946, while Baillie Gifford & Co. added 0.71% of its stake to hold $77.6 million in the firm. Over the last quarter, BlackRock Fund Advisors sold -4,554,785 shares of Lufax Holding Ltd, while The Vanguard Group, Inc. sold -16,795 shares. At present, Norges Bank Investment Management is holding 15,165,928 shares valued at $46.26 million. Goldman Sachs & Co. LLC owned 15,010,661 shares of the company at the time of its most recent 13F filing, worth $45.78 million.