OneConnect Financial Technology (NYSE:OCFT) Stock Price Down 0.3% - Should You Sell?

OneConnect Financial Technology Co., Ltd. (NYSE:OCFT - Get Free Report) was down 0.3% on Wednesday . The company traded as low as $5.73 and last traded at $5.98. Approximately 38,350 shares changed hands during trading, a decline of 47% from the average daily volume of 72,623 shares. The stock had previously closed at $6.00.

OneConnect Financial Technology Stock Performance

The company's 50 day simple moving average is $6.25 and its 200 day simple moving average is $4.00. The stock has a market cap of $241.21 million, a price-to-earnings ratio of 56.23 and a beta of 0.51.

OneConnect Financial Technology (NYSE:OCFT - Get Free Report) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.45) earnings per share for the quarter. OneConnect Financial Technology had a net margin of 0.95% and a negative return on equity of 6.05%. The business had revenue of $57.74 million during the quarter.

Institutional Investors Weigh In On OneConnect Financial Technology

A hedge fund recently bought a new stake in OneConnect Financial Technology stock. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of OneConnect Financial Technology Co., Ltd. (NYSE:OCFT - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 26,775 shares of the company's stock, valued at approximately $179,000. E Fund Management Hong Kong Co. Ltd. owned approximately 0.07% of OneConnect Financial Technology at the end of the most recent quarter. Institutional investors own 4.05% of the company's stock.

OneConnect Financial Technology Company Profile

OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business.