LexinFintech (NASDAQ:LX) Reaches New 1-Year High – Here’s Why

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) reached a new 52-week high during trading on Thursday . The stock traded as high as $9.82 and last traded at $9.81, with a volume of 5039973 shares trading hands. The stock had previously closed at $8.50.

Analyst Upgrades and Downgrades

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

LexinFintech Stock Up 15.4 %

The stock has a market cap of $1.61 billion, a PE ratio of 15.57 and a beta of 0.60. The business has a 50 day moving average price of $7.40 and a 200 day moving average price of $4.76. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.10.

Institutional Trading of LexinFintech

Hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp purchased a new position in LexinFintech during the fourth quarter worth approximately $1,371,000. Public Employees Retirement System of Ohio lifted its position in shares of LexinFintech by 8.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 185,988 shares of the company’s stock valued at $1,079,000 after buying an additional 14,227 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in LexinFintech in the 4th quarter valued at $2,565,000. Squarepoint Ops LLC purchased a new stake in LexinFintech in the 4th quarter worth $230,000. Finally, Point72 Asset Management L.P. acquired a new position in LexinFintech during the fourth quarter worth $1,053,000.

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.