Futu (NASDAQ:FUTU) Shares Gap Up to $42.40

Shares of Futu Holdings Limited (NASDAQ:FUTUGet Rating) gapped up prior to trading on Friday . The stock had previously closed at $42.40, but opened at $44.61. Futu shares last traded at $45.68, with a volume of 49,668 shares traded.

Several brokerages have commented on FUTU. Citigroup dropped their target price on shares of Futu from $79.00 to $46.50 in a research report on Monday, March 14th. Bank of America upgraded shares of Futu from an “underperform” rating to a “buy” rating in a research report on Friday, June 10th. TheStreet upgraded shares of Futu from a “d+” rating to a “c” rating in a research report on Monday, March 14th. CLSA cut shares of Futu from an “underperform” rating to a “sell” rating and set a $27.00 target price for the company. in a research report on Monday, June 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Futu from $50.00 to $55.00 in a research report on Tuesday, June 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Futu presently has an average rating of “Hold” and an average target price of $82.46.

The company’s fifty day moving average price is $34.97 and its 200 day moving average price is $34.79. The company has a market capitalization of $6.75 billion, a P/E ratio of 23.81, a PEG ratio of 0.82 and a beta of 0.82.

Futu (NASDAQ:FUTUGet Rating) last announced its earnings results on Monday, June 6th. The company reported $4.18 EPS for the quarter, topping the consensus estimate of $3.87 by $0.31. Futu had a net margin of 33.88% and a return on equity of 10.59%. During the same quarter in the previous year, the firm earned $1.03 EPS. On average, analysts expect that Futu Holdings Limited will post 2.28 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Natixis grew its stake in shares of Futu by 10.5% in the third quarter. Natixis now owns 2,201 shares of the company’s stock worth $200,000 after purchasing an additional 210 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Futu by 10.1% in the third quarter. Guggenheim Capital LLC now owns 2,676 shares of the company’s stock worth $244,000 after purchasing an additional 246 shares during the last quarter. Toroso Investments LLC grew its stake in shares of Futu by 2.9% in the first quarter. Toroso Investments LLC now owns 13,502 shares of the company’s stock worth $440,000 after purchasing an additional 378 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Futu by 2.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 20,200 shares of the company’s stock worth $875,000 after purchasing an additional 400 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Futu by 7.2% in the fourth quarter. Invesco Ltd. now owns 11,186 shares of the company’s stock worth $485,000 after purchasing an additional 752 shares during the last quarter. 23.33% of the stock is currently owned by hedge funds and other institutional investors.

Futu Company Profile (NASDAQ:FUTU)

Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program. It also offers online wealth management services under the brand of Futu Money Plus through its Futubull and moomoo platforms, which give access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas.

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