LexinFintech Holdings Ltd. (NASDAQ:LX) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -2.94% to the previous day’s close as strong demand from buyers drove the stock to $2.31.
Actively observing the price movement in the last trading, the stock closed the session at $2.38, falling within a range of $2.20 and $2.54. The value of beta (5-year monthly) was 0.70 whereas the PE ratio was 3.84 over 12-month period. Referring to stock’s 52-week performance, its high was $3.86, and the low was $1.26. On the whole, LX has fluctuated by 7.44% over the past month.
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With the market capitalization of LexinFintech Holdings Ltd. currently standing at about $387.46 million, investors are eagerly awaiting this quarter’s results, scheduled for May 29, 2023 – Jun 02, 2023.
According to the average forecast, sales growth in current quarter could jump down -26.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $1.42 billion, representing a decrease of -10.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that LX’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a Hold.
6 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 0 analyst(s), 6 recommend it as a Buy and 0 called the LX stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.63, with the price of LX currently trading nearly -6.40% and -6.16% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.04, while the 7-day volatility ratio is showing 7.73% which for the 30-day chart, stands at 5.83%. Furthermore, LexinFintech Holdings Ltd. (LX)’s beta value is 0.69, and its average true range (ATR) is 0.15. The company’s stock has been forecasted to trade at an average price of $24.73 over the course of the next 52 weeks, with a low of $19.93 and a high of $33.84. Based on these price targets, the low is -762.77% off current price, whereas the price has to move -1364.94% to reach the yearly target high. Additionally, analysts’ median price of $23.94 is likely to be welcomed by investors because it represents a decrease of -936.36% from the current levels.
A comparison of LexinFintech Holdings Ltd. (LX) with its peers suggests the former has fared considerably weaker in the market. LX showed an intraday change of -2.94% in last session, and over the past year, it grew by 1.76%%. In comparison, Avantax Inc. (AVTA) has moved lower at -1.61% on the day and was up 29.85% over the past 12 months. On the other hand, the price of Sprott Inc. (SII) has fallen -0.80% on the day. The stock, however, is off -7.93% from where it was a year ago. Additionally, there is a loss of -1.68% for Green Dot Corporation (GDOT) in last trading while the stock has seen an overall depriciation of -39.19%% over the past year. The PE ratio stands at 3.84 for LexinFintech Holdings Ltd., and 34.37 for Sprott Inc. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.
Data on historical trading for LexinFintech Holdings Ltd. (NASDAQ:LX) indicates that the trading volumes over the past 10 days have averaged 0.39 million and over the past 3 months, they’ve averaged 470.04K. According to company’s latest data on outstanding shares, there are 172.79 million shares outstanding.
Nearly 4.58% of LexinFintech Holdings Ltd.’s shares belong to company insiders and institutional investors own 21.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.83 million shares as on Apr 27, 2023, resulting in a short ratio of 2.26. According to the data, the short interest in LexinFintech Holdings Ltd. (LX) stood at 0.51% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 0.81 million. The stock has risen by 21.58% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LX stock heading into the next quarter.