LexinFintech (NASDAQ:LX) Trading Down 4.4% – What’s Next?

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) fell 4.4% during trading on Wednesday . The stock traded as low as $9.05 and last traded at $8.88. 573,097 shares changed hands during trading, a decline of 82% from the average session volume of 3,209,132 shares. The stock had previously closed at $9.28.

Wall Street Analysts Forecast Growth

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

LexinFintech Trading Down 1.6 %

The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 14.40 and a beta of 0.60. The firm has a 50-day moving average price of $7.78 and a 200 day moving average price of $5.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LX. Thurston Springer Miller Herd & Titak Inc. bought a new position in LexinFintech during the 4th quarter worth $29,000. Tower Research Capital LLC TRC grew its position in shares of LexinFintech by 146.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company’s stock worth $71,000 after acquiring an additional 7,227 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of LexinFintech by 24.1% in the 4th quarter. QRG Capital Management Inc. now owns 45,124 shares of the company’s stock worth $262,000 after acquiring an additional 8,752 shares during the period. Ameriprise Financial Inc. bought a new stake in LexinFintech in the 4th quarter valued at about $61,000. Finally, Wolverine Trading LLC acquired a new position in LexinFintech during the 3rd quarter valued at about $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.