Zacks Investment Research Lowers Hexindai (NASDAQ:HX) to Hold

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Zacks Investment Research lowered shares of Hexindai (NASDAQ:HX) from a strong-buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Hexindai Inc. provides consumer lending marketplace. It facilitates loans to meet the increasing consumption demand of the emerging middle class in China. Hexindai Inc. is based in Beijing, China. “

Separately, ValuEngine upgraded shares of Hexindai from a hold rating to a buy rating in a research report on Thursday, August 1st.

HX opened at $2.40 on Wednesday. The company has a fifty day moving average price of $2.32 and a 200-day moving average price of $2.73. The firm has a market capitalization of $128.00 million, a P/E ratio of 48.80, a price-to-earnings-growth ratio of 0.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.68 and a quick ratio of 3.68. Hexindai has a one year low of $1.87 and a one year high of $8.82.

Hexindai (NASDAQ:HX) last released its quarterly earnings results on Tuesday, June 18th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.17. The firm had revenue of $4.15 million during the quarter, compared to analyst estimates of $9.39 million. Hexindai had a net margin of 9.02% and a return on equity of 4.10%. On average, analysts expect that Hexindai will post 0.94 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC purchased a new position in Hexindai in the fourth quarter worth $58,000. Susquehanna International Group LLP bought a new stake in Hexindai in the second quarter worth $75,000. Two Sigma Advisers LP bought a new stake in Hexindai in the fourth quarter worth $85,000. Deutsche Bank AG lifted its stake in Hexindai by 814.9% in the fourth quarter. Deutsche Bank AG now owns 100,610 shares of the company’s stock worth $251,000 after purchasing an additional 89,613 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in Hexindai by 35.4% in the second quarter. Citadel Advisors LLC now owns 268,138 shares of the company’s stock worth $638,000 after purchasing an additional 70,101 shares during the last quarter. Institutional investors own 4.14% of the company’s stock.

About Hexindai

Hexindai Inc operates a consumer lending marketplace that facilitates loans in China. It primarily focuses on facilitating medium-sized credit loans. The company provides borrowers a range of products based on customer segmentation data and tailored to the specific needs of the emerging middle class; and investors various types of investment products.

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