Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Given Consensus Rating of "Buy" by Analysts

Key Points

• Futu Holdings Limited has received an average consensus rating of "Buy" from nine research firms, with an average 12-month price target of $190.43.
• Institutional investors have been actively acquiring shares, with significant increases in holdings noted for Osaic Holdings Inc. and Nomura Holdings Inc.
• The stock opened at $173.65 and has experienced a significant 12-month high of $199.86, indicating strong price movement in recent months.

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) has received an average rating of "Buy" from the nine research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $190.4286.

Several research firms have issued reports on FUTU. Citigroup boosted their target price on Futu from $176.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. Bank of America boosted their target price on Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Daiwa Capital Markets assumed coverage on Futu in a report on Monday, August 11th. They issued a "buy" rating and a $190.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Futu from $200.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Finally, Dbs Bank upgraded Futu to a "moderate buy" rating in a report on Thursday, September 4th.

Futu Trading Up 0.5%

NASDAQ FUTU opened at $173.65 on Tuesday. The business's 50 day moving average is $173.61 and its two-hundred day moving average is $131.27. Futu has a 12-month low of $70.60 and a 12-month high of $199.86. The stock has a market capitalization of $24.16 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 0.77 and a beta of 0.57.

Institutional Investors Weigh In On Futu

A number of institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. grew its holdings in shares of Futu by 522.6% in the 2nd quarter. Osaic Holdings Inc. now owns 853 shares of the company's stock worth $105,000 after acquiring an additional 716 shares during the period. Orion Porfolio Solutions LLC grew its holdings in shares of Futu by 16.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 2,659 shares of the company's stock worth $329,000 after acquiring an additional 370 shares during the period. Marex Group plc acquired a new stake in shares of Futu in the 2nd quarter worth approximately $1,550,000. State of Wyoming acquired a new stake in shares of Futu in the 2nd quarter worth approximately $503,000. Finally, Nomura Holdings Inc. grew its holdings in Futu by 45.5% during the 2nd quarter. Nomura Holdings Inc. now owns 100,066 shares of the company's stock valued at $12,367,000 after buying an additional 31,310 shares during 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.

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