Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) shares were down 3.6% during trading on Monday . The company traded as low as $112.60 and last traded at $114.18. Approximately 769,383 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 2,513,666 shares. The stock had previously closed at $118.47.
Analyst Ratings Changes
Several brokerages recently weighed in on FUTU. JPMorgan Chase & Co. raised their target price on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. UBS Group raised their price objective on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Monday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $121.20.
Read Our Latest Stock Analysis on Futu
Futu Stock Performance
The firm has a 50 day moving average of $104.19 and a two-hundred day moving average of $92.46. The stock has a market cap of $14.66 billion, a P/E ratio of 26.07, a P/E/G ratio of 0.79 and a beta of 0.78.
Institutional Investors Weigh In On Futu
Several hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership acquired a new position in Futu in the 4th quarter valued at approximately $116,315,000. Point72 Hong Kong Ltd raised its stake in shares of Futu by 170.6% in the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company's stock valued at $66,459,000 after purchasing an additional 523,808 shares in the last quarter. Norges Bank bought a new position in Futu in the fourth quarter worth $39,163,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Futu by 502.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company's stock valued at $53,444,000 after buying an additional 465,961 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Futu in the 3rd quarter valued at $39,943,000.
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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