Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) was up 7.2% during mid-day trading on Friday . The company traded as high as $130.13 and last traded at $129.32. 1,176,254 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 2,599,905 shares. The stock had previously closed at $120.59.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Morgan Stanley upgraded shares of Futu from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $70.00 to $115.00 in a research note on Monday, November 18th. Citigroup cut Futu from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $91.40.
View Our Latest Analysis on Futu
Futu Price Performance
The stock's fifty day moving average is $93.05 and its 200-day moving average is $86.12. The stock has a market capitalization of $14.70 billion, a P/E ratio of 25.99, a PEG ratio of 0.79 and a beta of 0.76.
Institutional Investors Weigh In On Futu
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in shares of Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company's stock worth $71,000 after buying an additional 300 shares during the last quarter. Creative Planning boosted its holdings in Futu by 6.3% during the third quarter. Creative Planning now owns 14,091 shares of the company's stock valued at $1,348,000 after acquiring an additional 838 shares during the period. Allspring Global Investments Holdings LLC grew its position 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 valued at $84,000 after purchasing an additional 112 shares during the last quarter. abrdn plc lifted its position in shares of 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. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Futu in the 3rd quarter worth $271,000.
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.
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