Futu Holdings Limited (NASDAQ:FUTU - Get Free Report)'s share price was down 16.1% on Friday . The company traded as low as $83.18 and last traded at $81.80. Approximately 2,603,826 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 2,647,826 shares. The stock had previously closed at $97.49.
Analysts Set New Price Targets
Several research firms have commented on FUTU. JPMorgan Chase & Co. boosted their price objective on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. UBS Group boosted their price target on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $121.20.
View Our Latest Analysis on FUTU
Futu Stock Up 6.6 %
The firm has a market capitalization of $11.05 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. The business has a 50-day moving average price of $106.95 and a 200-day moving average price of $96.30.
Institutional Trading of Futu
A number of hedge funds and other institutional investors have recently modified their holdings of FUTU. Smartleaf Asset Management LLC grew 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 holdings in shares of Futu by 77.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock worth $36,000 after buying an additional 197 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of 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 position in Futu in the fourth quarter valued at approximately $60,000. Finally, Assetmark Inc. grew its position in Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after acquiring an additional 760 shares during the period.
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.
Read More
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
Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.