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Futu (NASDAQ:FUTU) Stock Price Down 4.9% - What's Next?

Futu logo with Business Services background

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) were down 4.9% on Friday . The stock traded as low as $117.80 and last traded at $116.21. Approximately 388,655 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 2,880,918 shares. The stock had previously closed at $122.16.

Analyst Ratings Changes

Several equities research analysts recently commented on FUTU shares. Bank of America upped their target price on Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research report on Wednesday, June 11th. UBS Group raised their price objective on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.98.

View Our Latest Stock Analysis on Futu

Futu Stock Down 1.4%

The stock has a 50 day simple moving average of $103.06 and a 200 day simple moving average of $98.82. The stock has a market cap of $15.69 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 0.91 and a beta of 0.58.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.01. The firm had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. Equities analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

Institutional Trading of Futu

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FUTU. Hhlr Advisors LTD. boosted its position in shares of Futu by 285.2% during the first quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company's stock valued at $440,872,000 after buying an additional 3,189,189 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Futu during the 4th quarter valued at $116,315,000. Trivest Advisors Ltd purchased a new position in Futu during the 1st quarter worth $98,651,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 acquiring an additional 888,760 shares in the last quarter. Finally, Yong Rong HK Asset Management Ltd purchased a new stake in shares of Futu in the first quarter valued at about $77,172,000.

Futu Company Profile

(Get Free Report)

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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