Lexin Fintech Holdings Ltd. (NASDAQ:LX) sees a significant drop in short-term interest

Lexin Fintech Holdings Ltd. (NASDAQ:LXGet a rating) saw a sharp decline in short-term interest in May. As of May 15, there was short interest totaling 798,000 shares, down 47.5% from the total of 1,520,000 shares as of April 30. Based on an average trading volume of 2,090,000 shares, the day-to-cover ratio is currently 0.4 days.

Hedge funds and other institutional investors have recently changed their holdings in the company. BNP Paribas Arbitrage SA acquired a new equity stake in LexinFintech during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC increased its stake in LexinFintech by 17,909.3% during Q4. Quadrant Capital Group LLC now owns 7,744 shares of the company worth $30,000 after purchasing an additional 7,701 shares in the last quarter. NTB Financial Corp bought a new position in LexinFintech during Q4 for a value of around $44,000. Sei Investments Co. bought a new position in LexinFintech during Q1 worth around $31,000. Finally, Davy Global Fund Management Ltd bought a new position in LexinFintech during Q4 worth around $50,000. 31.56% of the shares are currently held by institutional investors and hedge funds.

LX stock traded at $0.05 during the midday session on Friday, reaching $2.37. The company had a trading volume of 924,887 shares, compared to an average volume of 1,925,837 shares. The company has a debt ratio of 0.32, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $435.77 million, a price-earnings ratio of 1.35 and a beta of 0.72. The company has a fifty-day simple moving average of $2.56 and a 200-day simple moving average of $3.36. LexinFintech has a fifty-two week low of $1.90 and a fifty-two week high of $13.62.

Lexin Fintech (NASDAQ:LXGet a rating) last released its quarterly results on Tuesday, March 15. The company reported earnings per share (EPS) of $0.24 for the quarter, missing analyst consensus estimates of $0.29 per ($0.05). LexinFintech had a net margin of 20.47% and a return on equity of 32.63%. The company had revenue of $345.10 million in the quarter. In the same quarter of the previous year, the company had earned earnings per share of $0.39. As a group, analysts expect LexinFintech to post 1.65 earnings per share for the current year.

Separately, Zacks Investment Research upgraded LexinFintech from a “hold” rating to a “strong sell” rating in a Tuesday, April 12 report. One equity research analyst gave the stock a sell rating, two gave the company a hold rating and two gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.85.

LexinFintech Company Profile (Get a rating)

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer and consumer finance platform for young professionals in the People’s Republic of China. The Company operates Fenqile.com, a consumer finance and consumer finance platform that offers installment loans, personal installment loans and other loan products, as well as online direct sales with installment payment terms. ; and Le Card, a membership platform, which offers savings, benefits and membership privileges to the food and beverage, apparel, hospitality and leisure industries.

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