LexinFintech Holdings Ltd. (NASDAQ: LX) sees sharp decline in near-term interest

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LexinFintech Holdings Ltd. (NASDAQ: LX) saw short rates decline sharply in November. As of November 30, there was short interest totaling 1,670,000 shares, a decrease of 37.0% compared to November 15 from a total of 2,650,000 shares. Based on an average daily trading volume of 1,650,000 shares, the short interest ratio is currently 1.0 days.

A number of research companies have commented on LX. Citigroup lowered its price target on LexinFintech from $ 18.55 to $ 9.89 and on Thursday the 26th. DBS Vickers downgraded LexinFintech from a “buy” rating to a “hold” rating and set a price target of 7, Fixed $ 20 for the stock. in a research note on Thursday August 26th. Finally, Zacks Investment Research downgraded LexinFintech from a “hold” rating to a “sell” rating in a research release on Tuesday, September 14th. A stock research analyst has rated the stock with a sell rating, one with a hold rating, and three with a buy rating. LexinFintech currently has a consensus rating of “Hold” and a consensus price target of $ 11.33 based on data from MarketBeat.

Hedge funds and other institutional investors have recently changed their holdings in the business. Quadrant Capital Group LLC increased its stake in LexinFintech by 2,469.1% in the second quarter. Quadrant Capital Group LLC now owns 2,081 shares in the company, valued at $ 25,000, after purchasing an additional 2,000 shares last quarter. Advisor Group Holdings Inc. increased its stake in LexinFintech by 433.2% in the second quarter. Advisor Group Holdings Inc. now owns 8,398 shares in the company valued at $ 102,000 after purchasing an additional 6,823 shares last quarter. Manufacturers Life Insurance Company acquired a new stake in LexinFintech valued at approximately $ 123,000 in the second quarter. Principal Financial Group Inc. increased its stake in LexinFintech by 9.7% in the first quarter. Principal Financial Group Inc. now owns 13,902 shares in the company valued at $ 140,000 after purchasing an additional 1,224 shares last quarter. Ultimately, Twinbeech Capital LP acquired a new stake in LexinFintech worth approximately $ 95,000 in the third quarter. 25.69% of the shares are owned by institutional investors and hedge funds.

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LX stock rose $ 0.05 during Friday’s trading to hit $ 3.76. 49,909 shares of the company were traded, compared with an average volume of 2,033,112. LexinFintech has a 12-month low of $ 3.60 and a 12-month high of $ 15.42. The company has a 50-day simple moving average of $ 5.18 and a 200-day simple moving average of $ 7.50. The company has a market capitalization of $ 684.48 million, a price / earnings ratio of 1.92, and a beta of 0.87. The company has a debt of 0.34, a quick ratio of 1.62 and a current ratio of 1.63.

LexinFintech company profile

Lexinfintech Holdings Ltd. deals with the provision of online consumer finance platforms. Through its subsidiaries, it offers online direct sales with payment terms and conditions; Hire purchase loan; and personal installment loans. Its services are offered through its online consumer finance platform www.fenqile.com; and mobile application.

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