Lufax (NYSE:LU) Shares Up 10.5% - Should You Buy?

Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Get Free Report) shares shot up 10.5% during mid-day trading on Friday . The stock traded as high as $3.04 and last traded at $3.0930. 893,354 shares traded hands during trading, a decline of 72% from the average session volume of 3,197,617 shares. The stock had previously closed at $2.80.Wall Street Analysts Forecast GrowthPalantir Breaks Out: Why PLTR Stock May Rally Into Year-EndSeveral research firms have recently issued reports on LU. Wall Street Zen raised Lufax from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Weiss Ratings reissued a "sell (d)" rating on shares of Lufax in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of "Sell".Get Our Latest Stock Report on LULufax Trading Up 9.8%3 Travel Stocks to Watch Heading Into the HolidaysThe business has a 50-day moving average price of $3.34 and a 200 day moving average price of $3.01. The stock has a market cap of $2.67 billion, a PE ratio of -3.99 and a beta of 0.76. Institutional Trading of LufaxInstitutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in Lufax by 44.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,017 shares of the company's stock worth $71,000 after acquiring an additional 7,417 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Lufax by 18.4% in the 1st quarter. Allianz Asset Management GmbH now owns 1,764,470 shares of the company's stock worth $5,240,000 after purchasing an additional 274,540 shares in the last quarter. Cape Ann Asset Management Ltd purchased a new position in shares of Lufax in the 1st quarter worth about $3,180,000. Charles Schwab Investment Management Inc. boosted its holdings in Lufax by 19.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,011,130 shares of the company's stock valued at $14,883,000 after acquiring an additional 805,292 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Lufax by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 70,969 shares of the company's stock valued at $211,000 after acquiring an additional 7,122 shares during the period. Hedge funds and other institutional investors own 69.14% of the company's stock. About Lufax (Get Free Report)Are Airline Stocks Ready for Takeoff After a Turbulent 2025?Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.See AlsoFive stocks we like better than LufaxWhat does consumer price index measure? Meta Platforms Stock Falls Despite Strong Growth—Here’s WhyWhat is MarketRank™? How to Use itComfort Systems Is the AI Data Center Stock Beating NVDA, AVGO, & AMDStock Market Holidays 2022-2025 - Here’s When the NYSE and NASDAQ Will be ClosedCameco's $80 Billion U.S. Nuclear Deal Changes Everything This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Lufax Right Now?Before you consider Lufax, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lufax wasn't on the list.While Lufax currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here