Freedom (NASDAQ:FRHC) Shares Down 6.7% - Here's What Happened

Key Points

• Shares down 6.7% intraday to about $139.84 (session low $140.50) on sharply reduced volume — ~34,765 shares traded, a 68% drop versus the average daily volume.
• Analysts give FRHC an average rating of "Sell" with an average target of $138; recent notes include Loop Capital's $138 target and modest upgrades from Weiss Ratings and Wall Street Zen.
• Latest quarter showed EPS $1.25 on $500.71M revenue but very thin profitability (net margin 0.13%, ROE 0.21%); the stock carries an $8.27B market cap and an unusually high reported P/E of 6,755.5.

Freedom Holding Corp. (NASDAQ:FRHC - Get Free Report)'s share price dropped 6.7% during mid-day trading on Friday . The company traded as low as $140.50 and last traded at $139.8360. Approximately 34,765 shares traded hands during trading, a decline of 68% from the average daily volume of 109,477 shares. The stock had previously closed at $149.83.

Analyst Upgrades and Downgrades

FRHC has been the topic of a number of recent analyst reports. Loop Capital set a $138.00 price target on shares of Freedom in a research note on Thursday, February 26th. Weiss Ratings upgraded shares of Freedom from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Freedom from a "sell" rating to a "hold" rating in a research report on Saturday, January 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Freedom has an average rating of "Sell" and an average target price of $138.00.

Freedom Stock Down 9.8%

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.15 and a quick ratio of 1.15. The firm's 50-day simple moving average is $141.79 and its two-hundred day simple moving average is $137.13. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 6,755.50 and a beta of 0.73.

Freedom (NASDAQ:FRHC - Get Free Report) last issued its earnings results on Monday, February 9th. The company reported $1.25 earnings per share for the quarter. Freedom had a net margin of 0.13% and a return on equity of 0.21%. The company had revenue of $500.71 million for the quarter.

Institutional Trading of Freedom

Several large investors have recently modified their holdings of FRHC. Caitong International Asset Management Co. Ltd grew its position in shares of Freedom by 290.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company's stock valued at $25,000 after purchasing an additional 154 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Freedom by 111.7% in the fourth quarter. Wells Fargo & Company MN now owns 506 shares of the company's stock valued at $62,000 after purchasing an additional 267 shares during the last quarter. Barclays PLC grew its position in shares of Freedom by 600.8% in the fourth quarter. Barclays PLC now owns 904 shares of the company's stock valued at $110,000 after purchasing an additional 775 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Freedom by 4,426.7% in the third quarter. Farther Finance Advisors LLC now owns 679 shares of the company's stock valued at $117,000 after purchasing an additional 664 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its position in shares of Freedom by 18.2% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,406 shares of the company's stock valued at $171,000 after purchasing an additional 216 shares during the last quarter. 1.26% of the stock is currently owned by institutional investors and hedge funds.

About Freedom

Freedom Holding Corp NASDAQ: FRHC is a diversified financial services holding company that provides a broad range of brokerage, trading, investment banking, and asset management services. Through its subsidiaries, the company caters to retail, institutional, and corporate clients by offering access to global capital markets, equity and fixed-income trading, and research-driven investment strategies.

The firm's product suite includes online and over-the-counter brokerage platforms, margin lending, securities underwriting, and M&A advisory services.

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