Freedom (NASDAQ:FRHC) Shares Gap Down - Should You Sell?

Key Points

• Shares gapped down before trading Friday, opening at $145.50 after a $154.23 close and last trading around $147.95 on light volume.
• Analysts' consensus is a Sell with a $138 average target; recent notes include Loop Capital's $138 target, Weiss Ratings reaffirming a "sell," and Wall Street Zen upgrading to "hold."
• Company fundamentals show an $8.95B market cap, an unusually high P/E of 7,306.55, very thin profitability (net margin 0.13%, ROE 0.21%), and 50/200-day SMAs near $138.

Freedom Holding Corp. (NASDAQ:FRHC - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $154.23, but opened at $145.50. Freedom shares last traded at $147.9520, with a volume of 2,387 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FRHC. Loop Capital set a $138.00 price target on Freedom in a report on Thursday, February 26th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Freedom in a report on Monday, December 29th. Finally, Wall Street Zen raised Freedom from a "sell" rating to a "hold" rating in a report on Saturday, January 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of "Sell" and a consensus target price of $138.00.

Freedom Price Performance

The stock has a market capitalization of $8.95 billion, a P/E ratio of 7,306.55 and a beta of 0.73. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $138.23 and a two-hundred day simple moving average of $137.78.

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

Institutional Trading of Freedom

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Highland Capital Management LLC bought a new stake in Freedom during the 3rd quarter worth about $1,609,000. JPMorgan Chase & Co. grew its position in shares of Freedom by 188.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company's stock worth $13,094,000 after buying an additional 49,712 shares during the period. Daytona Street Capital LLC bought a new stake in shares of Freedom in the 4th quarter valued at about $2,434,000. Acadian Asset Management LLC acquired a new stake in shares of Freedom in the 1st quarter valued at approximately $261,000. Finally, Barclays PLC raised its position in shares of Freedom by 600.8% in the 4th quarter. Barclays PLC now owns 904 shares of the company's stock valued at $110,000 after acquiring an additional 775 shares during the period. 1.26% of the stock is owned by institutional investors.

Freedom Company Profile

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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