Futu (NASDAQ:FUTU) Trading Up 7.3% - Should You Buy?

Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) was up 7.3% during mid-day trading on Friday . The stock traded as high as $105.60 and last traded at $104.27. Approximately 1,938,449 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 2,226,995 shares. The stock had previously closed at $97.16.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FUTU shares. Morgan Stanley upgraded Futu from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $70.00 to $115.00 in a research report on Monday, November 18th. Citigroup cut shares of Futu from a "buy" rating to a "neutral" rating and increased their target price for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. One investment 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.40.

Futu Trading Down 1.5 %

The stock has a market capitalization of $14.60 billion, a PE ratio of 25.98, a PEG ratio of 0.77 and a beta of 0.76. The business has a fifty day moving average price of $87.39 and a 200-day moving average price of $82.35.

Futu Announces Dividend

The business also recently disclosed a -- dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 6th were given a $2.00 dividend. The ex-dividend date was Friday, December 6th.

Hedge Funds Weigh In On Futu

Institutional investors have recently bought and sold shares of the stock. LPL Financial LLC purchased a new position in Futu during the fourth quarter valued at $381,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Futu during the fourth quarter valued at approximately $2,189,000. Sei Investments Co. increased its position in shares of Futu by 381.3% during the fourth quarter. Sei Investments Co. now owns 51,903 shares of the company's stock valued at $4,152,000 after acquiring an additional 41,119 shares in the last quarter. American Century Companies Inc. lifted its position in Futu by 5.7% in the 4th quarter. American Century Companies Inc. now owns 8,994 shares of the company's stock valued at $719,000 after acquiring an additional 488 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Futu by 1.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company's stock worth $746,000 after purchasing an additional 113 shares in the last quarter.

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.