Futu (NASDAQ:FUTU) Sees Unusually-High Trading Volume - Time to Buy?

Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) saw unusually-high trading volume on Monday . Approximately 1,124,538 shares traded hands during mid-day trading, an increase of 8% from the previous session's volume of 1,040,775 shares.The stock last traded at $81.90 and had previously closed at $80.63.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup downgraded shares of Futu from a "buy" rating to a "neutral" rating and raised their price target for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Morgan Stanley upgraded Futu from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Finally, Bank of America increased their target price on shares of Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $91.40.

Futu Price Performance

The stock's 50-day moving average is $88.54 and its 200 day moving average is $78.02. The company has a market cap of $11.13 billion, a PE ratio of 19.79, a PEG ratio of 0.88 and a beta of 0.75.

Futu Announces Dividend

The business also recently disclosed a -- dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 6th will be issued a dividend of $2.00 per share. The ex-dividend date is Friday, December 6th.

Institutional Trading of Futu

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company's stock valued at $62,000 after buying an additional 184 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Futu by 135.3% in the third quarter. Tidal Investments LLC now owns 9,517 shares of the company's stock valued at $910,000 after purchasing an additional 5,472 shares during the period. Virtu Financial LLC lifted its holdings in shares of Futu by 241.1% during the third quarter. Virtu Financial LLC now owns 23,846 shares of the company's stock worth $2,281,000 after purchasing an additional 16,855 shares during the period. Toronto Dominion Bank increased its holdings in Futu by 61.8% in the 3rd quarter. Toronto Dominion Bank now owns 11,482 shares of the company's stock worth $1,098,000 after buying an additional 4,387 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Futu by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company's stock valued at $51,475,000 after acquiring an additional 17,513 shares during the period.

Futu Company Profile

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.