Futu Holdings Limited (NASDAQ:FUTU - Get Free Report)'s share price traded up 6.8% during trading on Wednesday . The stock traded as high as $115.54 and last traded at $115.52. 722,238 shares traded hands during trading, a decline of 73% from the average session volume of 2,686,599 shares. The stock had previously closed at $108.18.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Morgan Stanley upgraded Futu from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. Citigroup lowered Futu from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Futu has a consensus rating of "Moderate Buy" and a consensus price target of $91.40.
Check Out Our Latest Analysis on Futu
Futu Price Performance
The company has a 50-day moving average of $97.71 and a two-hundred day moving average of $88.95. The stock has a market capitalization of $15.57 billion, a PE ratio of 27.70, a P/E/G ratio of 0.79 and a beta of 0.78.
Hedge Funds Weigh In On Futu
Large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of Futu by 1,245.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after purchasing an additional 411 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Futu by 77.3% in the fourth 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 in the last quarter. Rakuten Securities Inc. grew its stake in shares of Futu by 239.8% in the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock valued at $55,000 after buying an additional 482 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Futu in the fourth quarter valued at about $60,000. Finally, Assetmark Inc. grew its stake in Futu by 15,200.0% during the 4th quarter. Assetmark Inc. now owns 765 shares of the company's stock valued at $61,000 after purchasing an additional 760 shares in 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.
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