Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 3,810,000 shares, a decrease of 21.0% from the February 13th total of 4,820,000 shares. Approximately 4.3% of the company's stock are sold short. Based on an average trading volume of 2,580,000 shares, the days-to-cover ratio is currently 1.5 days.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on FUTU. JPMorgan Chase & Co. lifted their price objective on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, March 14th. UBS Group boosted their price target on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $121.20.
Check Out Our Latest Stock Report on Futu
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in Futu by 14.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company's stock worth $11,245,000 after purchasing an additional 15,127 shares during the period. Y Intercept Hong Kong Ltd lifted its position in shares of Futu by 136.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company's stock valued at $4,032,000 after buying an additional 24,355 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Futu by 127.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company's stock worth $5,024,000 after acquiring an additional 29,401 shares during the period. Natixis Advisors LLC acquired a new position in shares of Futu during the 3rd quarter worth approximately $1,100,000. Finally, Monolith Management Ltd bought a new stake in Futu in the 3rd quarter valued at $6,217,000.
Futu Stock Performance
FUTU traded down $2.77 during trading on Friday, reaching $106.36. 1,994,249 shares of the stock were exchanged, compared to its average volume of 2,537,109. The stock's 50 day moving average price is $104.19 and its two-hundred day moving average price is $92.46. Futu has a twelve month low of $51.80 and a twelve month high of $130.88. The stock has a market cap of $14.66 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78.
About Futu
(
Get Free Report)
Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.
Featured Articles
Before you consider Futu, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Futu wasn't on the list.
While Futu currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
