LexinFintech (NASDAQ:LX) Sets New 52-Week High – Time to Buy?

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.85 and last traded at $6.66, with a volume of 17671 shares. The stock had previously closed at $6.79.

Wall Street Analyst Weigh In

Separately, Citigroup upgraded LexinFintech from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 26th.

LexinFintech Price Performance

The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.10 billion, a PE ratio of 10.60 and a beta of 0.63. The stock’s 50-day moving average is $5.37 and its 200 day moving average is $3.37.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.26 EPS for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

Hedge Funds Weigh In On LexinFintech

A number of hedge funds have recently added to or reduced their stakes in LX. Connor Clark & Lunn Investment Management Ltd. raised its holdings in LexinFintech by 25.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,107,663 shares of the company’s stock valued at $3,013,000 after buying an additional 226,479 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of LexinFintech during the 3rd quarter valued at about $467,000. Walleye Capital LLC raised its stake in shares of LexinFintech by 235.5% in the 3rd quarter. Walleye Capital LLC now owns 726,588 shares of the company’s stock valued at $1,976,000 after acquiring an additional 510,014 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in LexinFintech in the 3rd quarter worth approximately $397,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in LexinFintech during the fourth quarter worth approximately $29,000.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.