Lexin Fintech Holdings Ltd. (NASDAQ:LX- Get a rating) was the target of a surge in short-term interest in August. As of August 31, there was short interest totaling 1,420,000 shares, an increase of 13.6% from the total of 1,250,000 shares as of August 15. Based on an average daily volume of 971,700 shares, the short interest ratio is currently 1.5 days.
A Wall Street analyst gives his opinion
Several research analysts weighed in on LX shares. Citigroup downgraded shares of LexinFintech from a “buy” rating to a “neutral” rating in a Tuesday, May 31 report. CLSA downgraded shares of LexinFintech from an “outperform” rating to a “sell” rating and set a price target of $2.10 for the company. in a report from Wednesday, June 1.
LexinFintech Institutional Trading
Several hedge funds have recently bought and sold shares of LX. Vanguard Group Inc. increased its position in shares of LexinFintech by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,129,620 shares of the company worth $10,819,000 after purchasing an additional 33,992 shares in the last quarter. BlackRock Inc. increased its position in LexinFintech shares by 0.3% during the 1st quarter. BlackRock Inc. now owns 2,460,483 shares of the company worth $6,446,000 after purchasing an additional 8,439 shares last quarter. Dimensional Fund Advisors LP increased its position in LexinFintech shares by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,842,159 shares of the company worth $4,840,000 after buying 47,563 additional shares in the last quarter. State Street Corp increased its position in shares of LexinFintech by 12.9% during the 2nd quarter. State Street Corp now owns 1,453,825 shares of the company worth $3,242,000 after purchasing an additional 166,554 shares last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in LexinFintech shares by 23.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 959,523 shares of the company worth $2,514,000 after purchasing an additional 183,472 shares last quarter. 16.19% of the shares are currently held by institutional investors.
LexinFintech is trading down 3.1%
NASDAQ:LX shares opened at $1.85 on Friday. The company has a market capitalization of $340.16 million, a PE ratio of 2.20 and a beta of 0.46. The company’s 50-day moving average price is $2.03 and its 200-day moving average price is $2.30. LexinFintech has a fifty-two week low of $1.67 and a fifty-two week high of $6.48. The company has a quick ratio of 1.79, a current ratio of 1.80 and a leverage ratio of 0.51.
LexinFintech Company Profile
LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer credit services in the People’s Republic of China. The Company operates Fenqile.com, an online consumer credit and consumer finance platform that offers installment purchases and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based loan.
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