Shares of Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) reached a new 52-week high on Saturday . The stock traded as high as $130.88 and last traded at $121.40, with a volume of 4369566 shares trading hands. The stock had previously closed at $120.59.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Futu from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. Citigroup cut shares of Futu from a "buy" rating to a "neutral" rating and raised their target price for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.40.
Read Our Latest Analysis on FUTU
Futu Stock Performance
The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 0.79 and a beta of 0.76. The stock's fifty day moving average is $93.05 and its two-hundred day moving average is $86.12.
Institutional Trading of Futu
Several hedge funds have recently added to or reduced their stakes in the business. Valliance Asset Management Ltd acquired a new position in shares of Futu during the third quarter valued at $956,000. Sumitomo Mitsui Trust Group Inc. grew its position in Futu by 14.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company's stock valued at $11,245,000 after buying an additional 15,127 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Futu by 136.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company's stock worth $4,032,000 after buying an additional 24,355 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Futu by 127.1% in 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. Finally, Natixis Advisors LLC bought a new position in shares of Futu in the third quarter valued at approximately $1,100,000.
Futu Company Profile
(
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.
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