LexinFintech Holdings Ltd. (NASDAQ:LX) Experiences Significant Rise in Short Interest

LexinFintech Holdings Ltd. (NASDAQ:LX - Get Free Report) saw a considerable increase in short interest during January. By January 31st, the total short interest had reached 6,980,000 shares, marking a 21.4% rise compared to the 5,750,000 shares noted on January 15th. With an average daily trading volume of 3,510,000 shares, the current days-to-cover ratio stands at 2.0 days. This indicates that approximately 5.4% of the company's shares are presently sold short.

LexinFintech Stock Declines by 5.0%

During trading on Friday, LexinFintech's shares (NASDAQ:LX) decreased by $0.43, closing at $8.20. The trading volume was 3,987,451 shares, surpassing the average of 2,625,193 shares. The company's fifty-day moving average is $6.63, while the 200-day moving average sits at $4.06. LexinFintech holds a debt-to-equity ratio of 0.10, with both a quick ratio and current ratio of 1.66. The stock has a 52-week low of $1.56 and a high of $9.00, with a market capitalization of $1.35 billion and a price-to-earnings ratio of 13.02. The beta is noted at 0.66.

On November 25th, LexinFintech reported its latest earnings results, posting an earnings per share (EPS) of $0.26 for the quarter. The company boasts a net margin of 5.34% and a return on equity of 7.47%.

Analysts Adjust Price Targets

In a separate analysis, Citigroup upgraded LexinFintech's rating from "neutral" to "buy" in a report published on November 26th.

Institutional Investors Take Positions in LexinFintech

Recent activity from institutional investors shows a mix of additions and reductions in their positions with the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in LexinFintech by 25.7% during the third quarter, now owning 1,107,663 shares worth $3,013,000 after acquiring an additional 226,479 shares. Additionally, the Public Employees Retirement System of Ohio initiated a new position valued at about $467,000 during the third quarter. E Fund Management Hong Kong Co. Ltd. also bought a new position worth roughly $445,000 in the fourth quarter. Furthermore, Walleye Capital LLC significantly grew its position by 235.5% in the third quarter, owning 726,588 shares valued at $1,976,000 after obtaining an extra 510,014 shares. Finally, Quadrature Capital Ltd. acquired a new position in LexinFintech in the third quarter, valued at about $397,000.

About LexinFintech

LexinFintech Holdings Ltd. operates primarily in the People's Republic of China, offering online consumer finance services through its subsidiaries. The company runs Fenqile.com, which serves as an online platform for consumption and consumer financing, providing options for installment purchases and personal installment loans, along with direct online sales with installment payment options, and Le Hua Card for scenario-based lending.

LexinFintech, NASDAQ, short