Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 4,350,000 shares, a growth of 5.6% from the January 15th total of 4,120,000 shares. Based on an average daily volume of 2,490,000 shares, the days-to-cover ratio is currently 1.7 days.
Wall Street Analyst Weigh In
Several research analysts recently commented on FUTU shares. Citigroup cut Futu from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Morgan Stanley raised Futu from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $91.40.
Read Our Latest Stock Report on Futu
Futu Stock Performance
NASDAQ FUTU traded up $0.81 during trading on Friday, reaching $121.40. 4,369,566 shares of the company's stock were exchanged, compared to its average volume of 2,708,801. The stock has a market cap of $16.73 billion, a P/E ratio of 29.75, a price-to-earnings-growth ratio of 0.82 and a beta of 0.76. The company has a 50 day moving average price of $93.05 and a two-hundred day moving average price of $85.73. Futu has a 1 year low of $49.63 and a 1 year high of $130.88.
Institutional Trading of Futu
A number of institutional investors have recently bought and sold shares of the business. Aspex Management HK Ltd lifted its holdings in Futu by 2.4% during the 3rd quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company's stock worth $435,497,000 after buying an additional 108,219 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Futu in the 4th quarter valued at about $116,315,000. Hhlr Advisors LTD. lifted its holdings in shares of Futu by 6.4% in the 4th quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company's stock valued at $89,453,000 after purchasing an additional 67,214 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of Futu by 170.6% in the 4th quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company's stock valued at $66,459,000 after purchasing an additional 523,808 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Futu by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 567,635 shares of the company's stock valued at $44,890,000 after purchasing an additional 21,686 shares during the last quarter.
About Futu
(
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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.
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