Futu (NASDAQ:FUTU) Shares Climb 8.2% - Still a Buy?

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) rose 8.2% during trading on Monday. The stock traded as high as $110.42 and last traded at $110.5850. 1,143,645 shares were traded during trading, a decline of 46% from the average daily volume of 2,121,794 shares. The stock had previously closed at $102.17.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FUTU shares. Zacks Research upgraded shares of Futu from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Futu in a report on Friday, September 25th. Finally, Wall Street Zen upgraded Futu from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Futu currently has an average rating of "Hold" and a consensus target price of $139.91.

Futu Price Performance

• Futu Holdings NASDAQ: FUTU Stock: Is the Chinese Fintech Company a Buy?

The firm has a market cap of $15.46 billion, a P/E ratio of 10.85, a PEG ratio of 1.13 and a beta of 0.45. The stock's 50-day simple moving average is $112.18 and its two-hundred day simple moving average is $118.70.

Futu (NASDAQ:FUTU - Get Free Report) last released its earnings results on Thursday, August 20th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.35. The firm had revenue of $852.66 million during the quarter, compared to analyst estimates of $786.07 million. Futu had a net margin of 42.95% and a return on equity of 28.20%. As a group, sell-side analysts expect that Futu Holdings Limited Sponsored ADR will post 9.47 earnings per share for the current year.

Institutional Trading of Futu

Several institutional investors have recently added to or reduced their stakes in the company. Aspex Management HK Ltd grew its stake in shares of Futu by 37.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company's stock valued at $553,650,000 after buying an additional 919,724 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. boosted its holdings in Futu by 9.8% during the 2nd quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,093,634 shares of the company's stock valued at $102,517,000 after acquiring an additional 97,286 shares during the period. Capital International Investors boosted its holdings in Futu by 1.0% during the 4th quarter. Capital International Investors now owns 941,214 shares of the company's stock valued at $154,557,000 after acquiring an additional 9,119 shares during the period. Assenagon Asset Management S.A. bought a new position in Futu in the 2nd quarter valued at $61,574,000. Finally, Hsbc Holdings PLC grew its position in Futu by 7.2% in the 1st quarter. Hsbc Holdings PLC now owns 332,501 shares of the company's stock valued at $45,448,000 after acquiring an additional 22,469 shares during the last quarter.

About Futu

Futu Holdings Limited is a technology-driven financial services company that operates online brokerage and wealth-management platforms. Founded in 2012 and headquartered in Hong Kong, the company provides digital tools designed to help individual investors access securities markets, manage portfolios and obtain investment information.

Its principal platforms include Futubull and Moomoo, which offer services such as stock and exchange-traded fund trading, margin financing, market data, research, news, portfolio management and investor education.

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