LexinFintech (NASDAQ:LX) Shares Gap Up – Here’s What Happened

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) gapped up prior to trading on Wednesday . The stock had previously closed at $7.78, but opened at $7.99. LexinFintech shares last traded at $8.14, with a volume of 740,939 shares.

Wall Street Analyst Weigh In

Separately, Citigroup raised shares of LexinFintech from a “neutral” rating to a “buy” rating in a 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 company’s 50-day moving average is $6.56 and its 200-day moving average is $4.03. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 13.70 and a beta of 0.66.

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

Institutional Investors Weigh In On LexinFintech

A number of hedge funds have recently made changes to their positions in LX. SG Americas Securities LLC bought a new stake in LexinFintech during the 3rd quarter worth approximately $122,000. GSA Capital Partners LLP grew its holdings in shares of LexinFintech by 3.9% during the third quarter. GSA Capital Partners LLP now owns 435,219 shares of the company’s stock worth $1,184,000 after purchasing an additional 16,312 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of LexinFintech by 25.7% in 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. Walleye Capital LLC raised its holdings in shares of LexinFintech by 235.5% in the third quarter. Walleye Capital LLC now owns 726,588 shares of the company’s stock valued at $1,976,000 after buying an additional 510,014 shares during the last quarter. Finally, Centiva Capital LP bought a new position in shares of LexinFintech in the third quarter valued at about $41,000.

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.