LexinFintech (NASDAQ:LX) Sees Strong Trading Volume - What's Next?

LexinFintech Holdings Ltd. (NASDAQ:LX) has recently experienced a notable surge in trading volume. On Friday, about 2,073,328 shares were exchanged, marking an increase of 20% compared to the previous session where 1,729,918 shares were traded. At the close of trading, the stock was priced at $4.96, slightly up from the previous close of $4.90.

Analysts Set New Price Targets

Recently, Citigroup made headlines by upgrading LexinFintech from a 'neutral' rating to a 'buy' rating in a research report issued on Tuesday.

LexinFintech Trading Up 2.9 %

The company's performance has seen it trading up by 2.9%. Currently, LexinFintech has a 50-day moving average price of $3.21 and a 200-day moving average price of $2.25. With a market capitalization of $827.22 million, its price-to-earnings ratio stands at 7.78, and it possesses a beta of 0.53. The company’s current ratio is 1.66, while its quick ratio is 1.77, and its debt-to-equity ratio is very low, at 0.10.

LexinFintech last reported its earnings results on August 27. The company noted earnings of $0.19 per share, with a quarterly revenue of $500.98 million. LexinFintech has maintained a net margin of 5.34% and shows a return on equity of 7.47%.

Hedge Funds Weigh In On LexinFintech

Large investors have shown increasing interest in LexinFintech's stock. In the first quarter, Virtu Financial LLC acquired a new stake worth $149,000. Later, in the second quarter, Kathmere Capital Management LLC purchased a new stake valued at about $36,000. American Century Companies Inc. boosted its position in LexinFintech by 33.2% in that same quarter, ending up with 303,931 shares valued at $501,000 after acquiring an additional 75,759 shares. Renaissance Technologies LLC increased its holdings by 5.8%, acquiring 1,021,700 shares now valued at $1,686,000 after an additional purchase of 55,700 shares. Lastly, SG Americas Securities LLC made a new stake acquisition in the third quarter, valued at around $122,000.

LexinFintech Company Profile

LexinFintech Holdings Ltd. focuses on providing online consumer finance services within the People's Republic of China. Through its subsidiaries, it operates Fenqile.com, a platform dedicated to online consumption and finance, offering services such as personal installment loans and direct sales with installment payment plans, as well as Le Hua Card, which provides scenario-based lending.

Investment Considerations

As investors watch LexinFintech's strong trading volume, many are left pondering whether it could be a good time to invest. While it holds a 'Buy' rating from analysts, it's worth noting there are other stocks that some top analysts believe may present better opportunities right now.

LexinFintech, Trading, Investment