Futu Holdings Limited (NASDAQ:FUTU – Get Free Report) has received a consensus rating of “Hold” from the seven research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $46.18.
FUTU has been the subject of several recent analyst reports. TheStreet lowered Futu from a “b-” rating to a “c+” rating in a research note on Friday, July 7th. JPMorgan Chase & Co. lowered Futu from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $65.00 to $46.00 in a research note on Wednesday, May 17th. Credit Suisse Group upgraded Futu from a “neutral” rating to an “outperform” rating and set a $49.00 price objective for the company in a research note on Thursday, May 25th. Morgan Stanley lowered Futu from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $44.00 to $34.00 in a research note on Thursday, May 18th. Finally, Bank of America upped their price target on Futu from $27.00 to $32.15 in a research report on Thursday, May 25th.
Futu Stock Up 7.9 %
Shares of FUTU stock opened at $58.71 on Monday. The stock has a market cap of $8.83 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.21 and a beta of 0.79. The business has a 50-day simple moving average of $42.42 and a 200-day simple moving average of $45.76. Futu has a 52-week low of $28.00 and a 52-week high of $72.20.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. D1 Capital Partners L.P. acquired a new stake in shares of Futu in the first quarter valued at $93,742,000. Renaissance Technologies LLC raised its stake in shares of Futu by 791.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,697,800 shares of the company’s stock valued at $69,016,000 after acquiring an additional 1,507,400 shares in the last quarter. Aspex Management HK Ltd raised its stake in shares of Futu by 48.2% in the first quarter. Aspex Management HK Ltd now owns 4,520,281 shares of the company’s stock valued at $234,377,000 after acquiring an additional 1,470,013 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Futu by 4,000.8% in the first quarter. Envestnet Asset Management Inc. now owns 1,015,846 shares of the company’s stock valued at $759,000 after acquiring an additional 991,074 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Futu by 5,357.7% in the fourth quarter. Two Sigma Advisers LP now owns 775,000 shares of the company’s stock valued at $31,504,000 after acquiring an additional 760,800 shares in the last quarter. 23.99% of the stock is currently owned by institutional investors and hedge funds.
Futu Company Profile
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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