LexinFintech (NASDAQ:LX) Rating Lowered to Strong Sell at Zacks Investment Research

LexinFintech (NASDAQ:LX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “LexinFintech Holdings Ltd. is an online consumer finance platform for educated young adults primarily in China. The Company provide technologies including big data, cloud computing and artificial intelligence. LexinFintech Holdings Ltd. is based in China. “

Separately, TheStreet raised LexinFintech from a “d+” rating to a “c-” rating in a report on Monday, January 4th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.52.

Shares of LX opened at $8.75 on Thursday. The company has a market capitalization of $1.57 billion, a P/E ratio of 21.88, a PEG ratio of 0.21 and a beta of 0.94. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.32 and a quick ratio of 1.32. LexinFintech has a one year low of $6.04 and a one year high of $15.42. The business’s 50 day simple moving average is $10.83 and its 200-day simple moving average is $8.60.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LX. Regal Wealth Group Inc. bought a new stake in shares of LexinFintech in the 4th quarter valued at $27,000. Carroll Financial Associates Inc. increased its position in shares of LexinFintech by 94.6% in the 1st quarter. Carroll Financial Associates Inc. now owns 4,048 shares of the company’s stock valued at $40,000 after buying an additional 1,968 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of LexinFintech by 108.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,282 shares of the company’s stock valued at $50,000 after buying an additional 3,787 shares in the last quarter. LPL Financial LLC increased its holdings in LexinFintech by 11.8% during the 3rd quarter. LPL Financial LLC now owns 14,831 shares of the company’s stock worth $102,000 after purchasing an additional 1,568 shares in the last quarter. Finally, XTX Markets LLC bought a new position in LexinFintech during the 4th quarter worth about $122,000.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young professionals 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; and Le Card, a membership platform, which offers savings, benefits, and membership privileges to food and beverage, apparel, hospitality, and leisure sectors.

Featured Story: Conference Calls and Individual Investors

Get a free copy of the Zacks research report on LexinFintech (LX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for LexinFintech (NASDAQ:LX)

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.

Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit