Shares of LexinFintech Holdings Ltd – (NASDAQ:LX) were down 6.8% on Thursday . The stock traded as low as $10.32 and last traded at $10.39. Approximately 1,918,654 shares changed hands during trading, an increase of 383% from the average daily volume of 396,989 shares. The stock had previously closed at $11.15.

Several analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of LexinFintech in a report on Tuesday, December 11th. They issued a “weight” rating on the stock. Goldman Sachs Group raised shares of LexinFintech from a “neutral” rating to a “buy” rating in a report on Wednesday, November 21st. ValuEngine downgraded shares of LexinFintech from a “hold” rating to a “sell” rating in a report on Monday, December 17th. Finally, Zacks Investment Research raised shares of LexinFintech from a “strong sell” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Saturday, February 2nd. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $14.50.

The firm has a market capitalization of $1.84 billion, a PE ratio of 47.23 and a beta of 2.21. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.13.

Large investors have recently bought and sold shares of the business. Bank of Montreal Can raised its position in shares of LexinFintech by 10.2% in the fourth quarter. Bank of Montreal Can now owns 20,770 shares of the company’s stock valued at $151,000 after buying an additional 1,920 shares during the last quarter. Raymond James & Associates raised its position in shares of LexinFintech by 20.1% in the fourth quarter. Raymond James & Associates now owns 47,584 shares of the company’s stock valued at $345,000 after buying an additional 7,970 shares during the last quarter. Barclays PLC grew its holdings in shares of LexinFintech by 106.7% in the fourth quarter. Barclays PLC now owns 18,200 shares of the company’s stock valued at $132,000 after purchasing an additional 9,393 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of LexinFintech in the third quarter valued at about $149,000. Finally, Penserra Capital Management LLC grew its holdings in shares of LexinFintech by 8.8% in the fourth quarter. Penserra Capital Management LLC now owns 190,002 shares of the company’s stock valued at $1,376,000 after purchasing an additional 15,329 shares during the period. Institutional investors own 8.78% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “LexinFintech (LX) Stock Price Down 6.8%” was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://theolympiareport.com/2019/03/14/lexinfintech-lx-stock-price-down-6-8.html.

About LexinFintech (NASDAQ:LX)

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young adults in the People's Republic of China. The company operates Fenqile, an online consumer finance platform that offers personal installment loans, installment purchase loans, and other loan products, as well as Le Card credit line.

Further Reading: What is Net Asset Value (NAV)?

Receive News & Ratings for LexinFintech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LexinFintech and related companies with MarketBeat.com's FREE daily email newsletter.