OneConnect Financial Technology (NYSE:OCFT) Stock Price Down 4.2% - Here's What Happened

Shares of OneConnect Financial Technology Co., Ltd. (NYSE:OCFT - Get Free Report) were down 4.2% during mid-day trading on Thursday . The stock traded as low as $4.30 and last traded at $4.35. Approximately 24,863 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 38,302 shares. The stock had previously closed at $4.54.

OneConnect Financial Technology Stock Performance

The company has a 50-day moving average of $3.22 and a 200-day moving average of $2.53. The firm has a market capitalization of $248.03 million, a price-to-earnings ratio of 57.82 and a beta of 0.72.

About OneConnect Financial Technology

OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business.