Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $104.58, but opened at $112.68. Futu shares last traded at $114.01, with a volume of 1,735,343 shares trading hands.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on FUTU shares. Citigroup cut shares of Futu from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $70.00 to $115.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Futu currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.40.
Check Out Our Latest Stock Analysis on FUTU
Futu Price Performance
The business's 50-day moving average price is $95.64 and its 200-day moving average price is $87.71. The firm has a market capitalization of $15.05 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 0.79 and a beta of 0.76.
Institutional Investors Weigh In On Futu
A number of institutional investors and hedge funds have recently made changes to their positions in FUTU. Smartleaf Asset Management LLC increased its holdings in shares of Futu by 1,245.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock valued at $36,000 after purchasing an additional 411 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Futu by 77.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after buying an additional 197 shares during the period. Rakuten Securities Inc. raised its position in Futu by 239.8% during the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock worth $55,000 after buying an additional 482 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Futu in the 4th quarter worth $60,000. Finally, Assetmark Inc. boosted its holdings in shares of Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock valued at $61,000 after acquiring an additional 760 shares in the last quarter.
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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