Futu (NASDAQ:FUTU) Shares Gap Down - Should You Sell?

Futu Holdings Limited (NASDAQ:FUTU - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $93.89, but opened at $87.82. Futu shares last traded at $87.96, with a volume of 1,395,581 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FUTU. JPMorgan Chase & Co. increased their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. UBS Group boosted their target price on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Futu has a consensus rating of "Moderate Buy" and an average target price of $121.20.

Futu Stock Down 0.0 %

The stock has a market cap of $12.68 billion, a P/E ratio of 22.56, a P/E/G ratio of 0.79 and a beta of 0.67. The company's 50 day moving average price is $98.95 and its two-hundred day moving average price is $94.38.

Hedge Funds Weigh In On Futu

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in shares of Futu by 2.0% during the fourth quarter. Mackenzie Financial Corp now owns 4,475 shares of the company's stock valued at $358,000 after buying an additional 87 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Futu by 1.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company's stock valued at $746,000 after buying an additional 113 shares during the period. Rhumbline Advisers raised its holdings in Futu by 0.6% in the 4th quarter. Rhumbline Advisers now owns 23,023 shares of the company's stock worth $1,842,000 after purchasing an additional 144 shares during the period. Vestcor Inc lifted its position in shares of Futu by 19.2% during the 4th quarter. Vestcor Inc now owns 907 shares of the company's stock valued at $73,000 after buying an additional 146 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in shares of Futu by 1.6% in the fourth quarter. Voya Investment Management LLC now owns 9,549 shares of the company's stock valued at $764,000 after purchasing an additional 153 shares during the period.

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.