Shares of Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 1,274,493 shares traded hands during mid-day trading, a decline of 43% from the previous session's volume of 2,218,838 shares.The stock last traded at $88.17 and had previously closed at $95.25.
Wall Street Analyst Weigh In
Separately, Bank of America upped their price objective on shares of Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. One research analyst has rated the stock with a hold rating and six have given 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 $72.97.
Read Our Latest Stock Report on FUTU
Futu Price Performance
The stock has a market cap of $12.36 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 1.65 and a beta of 0.74. The business has a 50 day moving average price of $75.25 and a two-hundred day moving average price of $69.56.
Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. The firm had revenue of $400.73 million during the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. On average, sell-side analysts forecast that Futu Holdings Limited will post 4.28 earnings per share for the current fiscal year.
Institutional Trading of Futu
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FUTU. Marshall Wace LLP lifted its stake in Futu by 71.5% in the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company's stock worth $99,813,000 after acquiring an additional 634,369 shares during the period. E Fund Management Co. Ltd. purchased a new stake in Futu in the second quarter worth $31,490,000. National Bank of Canada FI lifted its stake in Futu by 3,253,333.3% in the second quarter. National Bank of Canada FI now owns 292,809 shares of the company's stock worth $18,790,000 after acquiring an additional 292,800 shares during the period. Renaissance Technologies LLC lifted its stake in Futu by 1,159.9% in the second quarter. Renaissance Technologies LLC now owns 292,300 shares of the company's stock worth $19,176,000 after acquiring an additional 269,100 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Futu by 5,492.5% in the second quarter. Acadian Asset Management LLC now owns 265,869 shares of the company's stock worth $17,419,000 after acquiring an additional 261,115 shares during the period.
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.
See Also
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
Click the link below and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
