Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) traded down 10.6% during mid-day trading on Friday . The company traded as low as $155.37 and last traded at $155.57. 3,763,158 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 2,645,559 shares. The stock had previously closed at $174.00.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Futu in a research report on Wednesday. Daiwa America raised Futu to a "strong-buy" rating in a research report on Tuesday, August 12th. Citigroup boosted their price target on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Daiwa Capital Markets started coverage on Futu in a report on Monday, August 11th. They set a "buy" rating and a $190.00 price objective on the stock. Finally, Zacks Research downgraded Futu from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Futu currently has an average rating of "Moderate Buy" and a consensus target price of $190.43.
Get Our Latest Stock Report on Futu
Futu Stock Down 11.4%
The firm has a 50-day moving average of $175.55 and a two-hundred day moving average of $134.38. The company has a market capitalization of $21.46 billion, a PE ratio of 21.42, a PEG ratio of 0.78 and a beta of 0.48.
Hedge Funds Weigh In On Futu
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lifestyle Asset Management Inc. boosted its stake in Futu by 2.1% during the second quarter. Lifestyle Asset Management Inc. now owns 3,971 shares of the company's stock worth $491,000 after buying an additional 83 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Futu by 0.4% in the second quarter. Asset Management One Co. Ltd. now owns 22,219 shares of the company's stock valued at $2,746,000 after buying an additional 94 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of Futu by 2.7% in the second quarter. Ensign Peak Advisors Inc now owns 3,800 shares of the company's stock valued at $470,000 after buying an additional 100 shares in the last quarter. Cerity Partners LLC boosted its position in Futu by 4.6% during the second quarter. Cerity Partners LLC now owns 2,729 shares of the company's stock worth $337,000 after purchasing an additional 120 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Futu by 15.9% during the second quarter. GAMMA Investing LLC now owns 1,026 shares of the company's stock worth $127,000 after purchasing an additional 141 shares in the last quarter.
Futu Company Profile
(
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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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