Futu (NASDAQ:FUTU) Trading Up 6.9%

Futu Holdings Limited (NASDAQ:FUTU) was up 6.9% on Thursday . The company traded as high as $63.71 and last traded at $63.63. Approximately 287,454 shares were traded during trading, a decline of 80% from the average daily volume of 1,413,509 shares. The stock had previously closed at $59.51.

Wall Street Analysts Forecast Growth

FUTU has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded Futu from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $62.00 to $92.00 in a research note on Tuesday, May 28th. Bank of America upped their price objective on Futu from $77.60 to $80.20 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.57.

Futu Trading Down 3.4 %

The company has a market cap of $9.03 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.92 and a beta of 0.72. The business has a fifty day moving average of $60.93 and a two-hundred day moving average of $63.91.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The business had revenue of $400.73 million during the quarter. On average, research analysts forecast that Futu Holdings Limited will post 4.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Futu

A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP increased its stake in shares of Futu by 71.5% during the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock worth $99,813,000 after purchasing an additional 634,369 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in Futu in the 2nd quarter worth about $31,490,000. National Bank of Canada FI increased its stake in Futu by 3,253,333.3% during the 2nd quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock worth $18,790,000 after buying an additional 292,800 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Futu by 1,159.9% during the second quarter. Renaissance Technologies LLC now owns 292,300 shares of the company’s stock valued at $19,176,000 after acquiring an additional 269,100 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Futu by 5,492.5% in the second quarter. Acadian Asset Management LLC now owns 265,869 shares of the company’s stock valued at $17,419,000 after acquiring an additional 261,115 shares in the last quarter.

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.