Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report)'s share price traded up 12.3% on Friday . The stock traded as high as $164.26 and last traded at $168.58. 1,556,765 shares were traded during mid-day trading, a decline of 48% from the average session volume of 2,985,046 shares. The stock had previously closed at $150.06.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on FUTU. Barclays began coverage on shares of Futu in a research report on Thursday. They issued an "overweight" rating and a $176.00 price objective on the stock. Bank of America upped their price objective on Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $139.32.
Check Out Our Latest Research Report on Futu
Futu Trading Up 8.1%
The firm has a 50-day moving average of $118.33 and a 200 day moving average of $104.55. The stock has a market capitalization of $22.56 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 1.13 and a beta of 0.60.
Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings results 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 business had revenue of $603.43 million during 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%. As a group, research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.
Hedge Funds Weigh In On Futu
Several large investors have recently modified their holdings of the stock. Lifestyle Asset Management Inc. boosted its position in shares of 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 period. Mackenzie Financial Corp lifted its position in shares of Futu by 2.0% in the fourth quarter. Mackenzie Financial Corp now owns 4,475 shares of the company's stock worth $358,000 after purchasing an additional 87 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Futu by 1.2% in 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 purchasing an additional 113 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Futu by 15.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,026 shares of the company's stock worth $127,000 after purchasing an additional 141 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Futu by 1.6% in the 4th quarter. Voya Investment Management LLC now owns 9,549 shares of the company's stock valued at $764,000 after acquiring an additional 153 shares in the last quarter.
Futu Company Profile
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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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