Futu (NASDAQ:FUTU) Shares Up 4.8% - Still a Buy?

Key Points

• Futu Holdings Limited shares increased by 4.8% to $164.08 after trading lower on volume, indicating a shift in investor sentiment.
• Analysts have given the stock a consensus rating of Moderate Buy, with several raising target prices, including Barclays' increase from $176.00 to $232.00.
• In recent trading activity, institutional investors have been actively acquiring shares, with multiple new positions established, reflecting growing interest in the company.

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report)'s share price shot up 4.8% during trading on Friday . The stock traded as high as $164.32 and last traded at $164.08. 2,028,023 shares were traded during trading, a decline of 24% from the average session volume of 2,651,302 shares. The stock had previously closed at $156.60.

Analyst Upgrades and Downgrades

FUTU has been the topic of a number of recent research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Futu in a report on Wednesday, October 8th. Barclays increased their target price on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Citigroup increased their target price on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Bank of America increased their target price on Futu from $172.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, Daiwa Capital Markets initiated coverage on Futu in a report on Monday, August 11th. They issued a "buy" rating and a $190.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

Futu Trading Up 5.5%

The firm has a 50 day moving average of $176.13 and a 200-day moving average of $136.15. The company has a market cap of $22.99 billion, a P/E ratio of 22.94, a P/E/G ratio of 0.69 and a beta of 0.48.

Institutional Trading of Futu

Several institutional investors and hedge funds have recently added to or reduced their stakes in FUTU. Atlas Capital Advisors Inc. bought a new stake in Futu during the 1st quarter valued at approximately $26,000. Geneos Wealth Management Inc. purchased a new position in Futu during the 1st quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA purchased a new position in Futu during the 2nd quarter valued at approximately $28,000. Cooper Investors PTY Ltd. purchased a new position in Futu during the 3rd quarter valued at approximately $29,000. Finally, Allianz SE purchased a new position in Futu during the 1st quarter valued at approximately $30,000.

About Futu

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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