Shares of Futu Holdings Limited (NASDAQ:FUTU – Get Rating) have received an average rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $52.52.
A number of equities analysts have weighed in on FUTU shares. DBS Vickers started coverage on shares of Futu in a research note on Monday, October 24th. They set a “buy” rating and a $55.00 price target on the stock. CLSA lowered shares of Futu from a “buy” rating to a “reduce” rating and set a $43.00 price target on the stock. in a report on Tuesday, January 3rd. Bank of America cut shares of Futu from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $59.60 to $27.00 in a research report on Friday, December 30th. Credit Suisse Group cut Futu from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $61.00 to $64.00 in a research note on Friday, December 16th. Finally, TheStreet upgraded Futu from a “c+” rating to a “b-” rating in a research note on Thursday, December 15th.
Futu Trading Up 2.5 %
NASDAQ FUTU opened at $52.99 on Friday. The business’s 50-day moving average price is $55.88 and its 200 day moving average price is $46.45. Futu has a twelve month low of $21.23 and a twelve month high of $72.20. The company has a market capitalization of $7.97 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 8.31 and a beta of 0.73.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in FUTU. Public Sector Pension Investment Board increased its position in Futu by 16.6% in the second quarter. Public Sector Pension Investment Board now owns 29,500 shares of the company’s stock worth $1,540,000 after buying an additional 4,200 shares during the period. Industrial Alliance Investment Management Inc. lifted its position in Futu by 19.1% in the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 28,432 shares of the company’s stock valued at $1,484,000 after purchasing an additional 4,556 shares during the last quarter. James Investment Research Inc. acquired a new position in Futu during the 2nd quarter valued at about $58,000. abrdn plc grew its position in Futu by 47.2% in the 2nd quarter. abrdn plc now owns 9,073 shares of the company’s stock worth $474,000 after purchasing an additional 2,909 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Futu by 150.1% during the first quarter. Bank of America Corp DE now owns 1,253,354 shares of the company’s stock valued at $40,810,000 after buying an additional 752,280 shares during the last quarter. Institutional investors and hedge funds own 19.92% of the company’s stock.
Futu Company Profile
Futu Holdings Ltd. is an advanced technology company, which engages in online brokerage and wealth management services. It provides investing services through its proprietary digital platforms, Futubull and moomoo that allows investors to trade securities and invest in fund products. The firm’s fee-generating services include trade execution, as well as margin financing and securities lending, which allow its clients to trade securities, such as stocks, ETFs, warrants, options and futures, across different markets.
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