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

Lexin Fintech Holdings Ltd. (NASDAQ:LX – Get Rating) benefited from a significant drop in short interest during the month of May. As of May 15, there was short interest totaling 798,000 shares, down 47.5% from the April 30 total of 1,520,000 shares. Based on an average daily trading volume of 2,090,000 shares, the short interest ratio is currently 0.4 days.

Hedge funds have recently increased or reduced their stakes in the company. BNP Paribas Arbitrage SA bought a new position in shares of LexinFintech in the fourth quarter valued at around $25,000. Quadrant Capital Group LLC increased its position in LexinFintech shares by 17,909.3% in the fourth quarter. Quadrant Capital Group LLC now owns 7,744 shares of the company valued at $30,000 after acquiring an additional 7,701 shares during the period. NTB Financial Corp bought a new position in shares of LexinFintech in the fourth quarter worth around $44,000. Sei Investments Co. acquired a new stake in LexinFintech in the first quarter worth approximately $31,000. Finally, Davy Global Fund Management Ltd acquired a new stake in LexinFintech in the fourth quarter worth around $50,000. Institutional investors hold 31.56% of the company’s shares.

Shares of LX rose $0.05 on Friday, hitting $2.37. The stock recorded a trading volume of 924,887 shares, compared to an average volume of 1,925,837 shares. LexinFintech has a 12 month minimum of $1.90 and a 12 month maximum of $13.62. The company has a 50-day moving average of $2.56 and a 200-day moving average of $3.36. The company has a debt ratio of 0.32, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $435.77 million, a price-earnings ratio of 1.35 and a beta of 0.72.

LexinFintech (NASDAQ:LX – Get Rating) last released its results on Tuesday, March 15. The company reported earnings per share of $0.24 for the quarter, missing analyst consensus estimates of $0.29 per ($0.05). The company had revenue of $345.10 million for the quarter. LexinFintech had a return on equity of 32.63% and a net margin of 20.47%. During the same period of the previous year, the company achieved EPS of $0.39. As a group, research analysts expect LexinFintech to post earnings per share of 1.65 for the current fiscal year.

Separately, Zacks Investment Research downgraded shares of LexinFintech from a “hold” rating to a “strong sell” rating in a Tuesday, April 12 report. One analyst rated the stock with a sell rating, two assigned a hold rating and two assigned the company a buy rating. According to MarketBeat, LexinFintech currently has a consensus rating of “Hold” and an average price target of $9.85.

About Lexin Fintech (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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