Shares of Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $121.36, but opened at $127.32. Futu shares last traded at $124.45, with a volume of 1,789,102 shares traded.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on FUTU. Morgan Stanley raised Futu from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $70.00 to $115.00 in a research note on Monday, November 18th. Citigroup downgraded shares of Futu from a "buy" rating to a "neutral" rating and raised their price target for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Futu currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.40.
View Our Latest Research Report on Futu
Futu Trading Up 0.7 %
The business has a 50-day moving average of $93.05 and a two-hundred day moving average of $85.73. The firm 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.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in FUTU. CWM LLC grew its holdings in Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company's stock worth $71,000 after acquiring an additional 300 shares during the last quarter. Creative Planning lifted its holdings in shares of Futu by 6.3% during the third quarter. Creative Planning now owns 14,091 shares of the company's stock worth $1,348,000 after purchasing an additional 838 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Futu by 14.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company's stock worth $84,000 after purchasing an additional 112 shares during the last quarter. BOCHK Asset Management Ltd increased its holdings in Futu by 23.3% in the third quarter. BOCHK Asset Management Ltd now owns 7,400 shares of the company's stock valued at $708,000 after purchasing an additional 1,400 shares during the period. Finally, abrdn plc raised its position in Futu by 8.4% during the 3rd quarter. abrdn plc now owns 10,394 shares of the company's stock worth $994,000 after purchasing an additional 807 shares during the last quarter.
About Futu
(
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.
See Also
Before you consider Futu, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Futu wasn't on the list.
While Futu currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
