Futu (NASDAQ:FUTU) Trading Down 3.6% – Should You Sell?

Futu Holdings Limited (NASDAQ:FUTU) shares traded down 3.6% during mid-day trading on Monday . The company traded as low as $112.60 and last traded at $114.18. 769,383 shares were traded during trading, a decline of 69% from the average session volume of 2,513,666 shares. The stock had previously closed at $118.47.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $115.00 in a research report on Monday, November 18th. Finally, Citigroup cut Futu from a “buy” rating to a “neutral” rating and upped their price target for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $107.00.

Futu Price Performance

The company has a market capitalization of $16.22 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The stock has a 50 day moving average price of $101.39 and a two-hundred day moving average price of $91.43.

Institutional Trading of Futu

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in Futu by 1,245.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock valued at $36,000 after acquiring an additional 411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Futu by 77.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock valued at $36,000 after acquiring an additional 197 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Futu by 239.8% in the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock valued at $55,000 after acquiring an additional 482 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Futu in the fourth quarter valued at about $60,000. Finally, Assetmark Inc. boosted its holdings in Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after acquiring an additional 760 shares during the last quarter.

About Futu

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.