Futu (NASDAQ:FUTU) Stock Price Down 12.2% – What’s Next?

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)’s stock price traded down 12.2% on Thursday . The stock traded as low as $150.00 and last traded at $147.5510. 1,790,767 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 1,497,427 shares. The stock had previously closed at $168.00.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. The Goldman Sachs Group set a $205.00 price objective on shares of Futu in a research note on Monday, May 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $209.17.

Futu Stock Performance

The firm has a market cap of $20.27 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 0.83 and a beta of 0.52. The stock’s 50 day simple moving average is $149.41 and its 200 day simple moving average is $162.00.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Sunday, February 15th. The company reported $3.07 EPS for the quarter. The business had revenue of $771.00 million during the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. As a group, analysts forecast that Futu Holdings Limited Sponsored ADR will post 11.95 EPS for the current fiscal year.

Futu Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, April 29th. Stockholders of record on Thursday, April 16th were paid a $2.60 dividend. The ex-dividend date was Thursday, April 16th. Futu’s dividend payout ratio is presently 24.81%.

Institutional Trading of Futu

Several institutional investors have recently made changes to their positions in FUTU. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Futu by 805.2% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock worth $195,933,000 after acquiring an additional 1,002,171 shares in the last quarter. Aspex Management HK Ltd grew its stake in shares of Futu by 37.5% in the 4th quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock worth $553,650,000 after acquiring an additional 919,724 shares in the last quarter. AGF Management Ltd. bought a new stake in shares of Futu in the 3rd quarter worth $149,432,000. Tredje AP fonden grew its stake in shares of Futu by 3,579.1% in the 3rd quarter. Tredje AP fonden now owns 688,000 shares of the company’s stock worth $119,650,000 after acquiring an additional 669,300 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Futu by 25,558,100.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 511,164 shares of the company’s stock worth $83,938,000 after buying an additional 511,162 shares during the last quarter.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.