LexinFintech Holdings Ltd. (NASDAQ: LX) saw a sharp drop in short-term interest in November. As of November 30, there was short interest totaling 1,670,000 shares, a decrease of 37.0% from the total of 2,650,000 shares as of November 15. Based on an average daily trading volume of 1,650,000 shares, the short-term interest ratio is currently 1.0 day.
A number of research companies have weighed in on LX. Citigroup cut its target price on LexinFintech from $ 18.55 to $ 9.89 and set a “buy” rating on the stock in a research note on Thursday, August 26. DBS Vickers downgraded LexinFintech from a “buy” rating to a “hold” rating and set a target price of $ 7.20 for the stock. in a research note on Thursday August 26. Finally, Zacks investment research downgraded LexinFintech from a “keep” rating to a “sell” rating in a research note on Tuesday, September 14. One equity research analyst rated the stock with a sell rating, another assigned a conservation rating, and three assigned a buy rating to the stock. Based on data from MarketBeat, LexinFintech currently has a consensus rating of “Hold” and a consensus price target of $ 11.33.
Hedge funds and other institutional investors have recently changed their holdings in the company. Quadrant Capital Group LLC increased its stake in LexinFintech by 2,469.1% in the second quarter. Quadrant Capital Group LLC now owns 2,081 shares of the company valued at $ 25,000 after acquiring an additional 2,000 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in LexinFintech by 433.2% in the second quarter. Advisor Group Holdings Inc. now owns 8,398 shares of the company valued at $ 102,000 after acquiring an additional 6,823 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new interest in LexinFintech in the second quarter valued at approximately $ 123,000. Principal Financial Group Inc. increased its holdings in LexinFintech by 9.7% in the first quarter. Principal Financial Group Inc. now owns 13,902 shares of the company valued at $ 140,000 after acquiring an additional 1,224 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new stake in LexinFintech in the third quarter valued at approximately $ 95,000. 25.69% of the shares are held by institutional investors and hedge funds.
LX stock traded up $ 0.05 in Friday’s session, reaching $ 3.76. 49,909 shares of the company traded hands, compared to its average volume of 2,033,112. LexinFintech has a 12-month low of $ 3.60 and a 12-month high of $ 15.42. The company has a 50-day simple moving average of $ 5.18 and a 200-day simple moving average of $ 7.50. The company has a market cap of $ 684.48 million, a price-to-earnings ratio of 1.92 and a beta of 0.87. The company has a debt to equity ratio of 0.34, a quick ratio of 1.62, and a current ratio of 1.63.
LexinFintech Company Profile
Lexinfintech Holdings Ltd. engages in the provision of online consumer credit platforms. Through its subsidiaries, it offers direct online sales with installment payment methods; installment purchase loans; and personal installment loans. Its services are offered through its online consumer credit platform, www.fenqile.com; and mobile applications.
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