Redhawk Wealth Advisors Inc. Purchases Shares of 7,877 Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Redhawk Wealth Advisors Inc. has invested approximately $974,000 in Futu Holdings Limited by purchasing 7,877 shares during the 2nd quarter.
• Futu's stock opened at $173.92 and has shown volatility with a 12-month low of $62.20 and a high of $199.86.
• Several analysts have given Futu positive ratings, with target prices being raised significantly, including a recent lift by JPMorgan from $200.00 to $270.00.

Redhawk Wealth Advisors Inc. purchased a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,877 shares of the company's stock, valued at approximately $974,000.

Several other institutional investors have also recently made changes to their positions in FUTU. Atlas Capital Advisors Inc. bought a new stake in Futu in the 1st quarter valued at $26,000. Geneos Wealth Management Inc. acquired a new position in shares of Futu during the 1st quarter worth $27,000. Allianz SE acquired a new position in shares of Futu during the 1st quarter worth $30,000. SVB Wealth LLC acquired a new position in shares of Futu during the 1st quarter worth $40,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Futu by 77.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock worth $36,000 after buying an additional 197 shares in the last quarter.

Futu Trading Up 2.3%

Futu stock traded up $4.07 during mid-day trading on Friday, hitting $177.99. The stock had a trading volume of 2,123,243 shares, compared to its average volume of 2,038,337. The firm has a market capitalization of $24.77 billion, a P/E ratio of 24.69, a P/E/G ratio of 0.79 and a beta of 0.57. The firm's 50 day moving average is $171.02 and its 200 day moving average is $128.60. Futu Holdings Limited Sponsored ADR has a one year low of $65.18 and a one year high of $199.86.

Wall Street Analyst Weigh In

FUTU has been the topic of a number of analyst reports. Daiwa America upgraded Futu to a "strong-buy" rating in a research report on Tuesday, August 12th. Barclays upped their target price on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Bank of America upped their target price on Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Dbs Bank upgraded Futu to a "moderate buy" rating in a research report on Thursday, September 4th. Finally, JPMorgan Chase & Co. upped their target price on Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $190.43.

Futu 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.