Futu (NASDAQ:FUTU) Stock Price Down 3.8% - Here's Why

Futu Holdings Limited (NASDAQ:FUTU - Get Free Report)'s stock price traded down 3.8% during trading on Tuesday . The company traded as low as $108.79 and last traded at $107.52. 1,194,997 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 2,833,321 shares. The stock had previously closed at $111.76.

Analysts Set New Price Targets

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

Futu Stock Down 5.3%

The firm's 50-day moving average price is $96.28 and its 200-day moving average price is $96.01. The company has a market cap of $14.15 billion, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.01. Futu had a net margin of 38.59% and a return on equity of 16.86%. The company had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. As a group, analysts forecast that Futu Holdings Limited will post 4.94 earnings per share for the current year.

Institutional Trading of Futu

Several institutional investors and hedge funds have recently bought and sold shares of FUTU. Hhlr Advisors LTD. lifted its stake in Futu by 285.2% in the 1st quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company's stock worth $440,872,000 after purchasing an additional 3,189,189 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Futu in the 4th quarter worth approximately $116,315,000. Trivest Advisors Ltd purchased a new stake in Futu in the 1st quarter worth approximately $98,651,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Futu by 883.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company's stock worth $101,262,000 after purchasing an additional 888,760 shares in the last quarter. Finally, Yong Rong HK Asset Management Ltd purchased a new stake in Futu in the 1st quarter worth approximately $77,172,000.

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.