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Futu (NASDAQ:FUTU) Shares Gap Down - Here's What Happened

Futu logo with Business Services background

Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $108.66, but opened at $101.70. Futu shares last traded at $98.57, with a volume of 1,536,929 shares trading hands.

Wall Street Analyst Weigh In

Separately, Bank of America raised their price target on Futu from $80.20 to $90.00 and gave the company a "buy" rating in a report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.97.

Check Out Our Latest Report on FUTU

Futu Stock Performance

The stock has a market cap of $13.02 billion, a PE ratio of 24.84, a PEG ratio of 1.01 and a beta of 0.75. The stock has a fifty day moving average price of $86.18 and a 200 day moving average price of $73.73.

Futu (NASDAQ:FUTU - Get Free Report) last announced its earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The firm had revenue of $400.73 million during the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. As a group, equities analysts anticipate that Futu Holdings Limited will post 4.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Futu

A number of large investors have recently bought and sold shares of the business. APG Asset Management N.V. bought a new stake in Futu during the 2nd quarter valued at $496,000. Sei Investments Co. raised its position in Futu by 261.3% during the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company's stock valued at $1,663,000 after purchasing an additional 18,334 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Futu during the 1st quarter valued at $747,000. Seven Eight Capital LP bought a new stake in Futu during the 2nd quarter valued at $1,956,000. Finally, WT Asset Management Ltd bought a new stake in Futu during the 3rd quarter valued at $1,435,000.

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.

Further Reading

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