LexinFintech (NASDAQ:LX) Trading Up 6% – What’s Next?

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price traded up 6% during mid-day trading on Tuesday . The company traded as high as $9.14 and last traded at $9.06. 1,645,359 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 3,238,197 shares. The stock had previously closed at $8.55.

Analysts Set New Price Targets

Separately, Citigroup upgraded shares of LexinFintech from a “neutral” rating to a “buy” rating in a research note 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 company’s fifty day moving average price is $7.71 and its 200 day moving average price is $5.02. The company has a market capitalization of $1.49 billion, a P/E ratio of 14.40 and a beta of 0.60.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in LexinFintech during the fourth quarter worth about $29,000. Ameriprise Financial Inc. acquired a new stake in shares of LexinFintech during the 4th quarter worth approximately $61,000. Wolverine Trading LLC bought a new position in LexinFintech in the third quarter valued at approximately $29,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in LexinFintech in the fourth quarter valued at approximately $70,000. Finally, Tower Research Capital LLC TRC raised its position in LexinFintech by 146.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company’s stock valued at $71,000 after purchasing an additional 7,227 shares in the last quarter.

About LexinFintech

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.