Futu (NASDAQ:FUTU) Trading Up 6.9% – Here’s Why

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) shares were up 6.9% during mid-day trading on Wednesday . The company traded as high as $99.61 and last traded at $97.6470. Approximately 1,065,565 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 2,644,834 shares. The stock had previously closed at $91.31.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FUTU shares. Zacks Research cut Futu from a “hold” rating to a “strong sell” rating in a report on Monday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $87.00 target price (down from $300.00) on shares of Futu in a report on Friday, May 22nd. The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 price objective on the stock. in a research note on Monday, May 25th. Wall Street Zen cut Futu from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Finally, Jefferies Financial Group restated a “buy” rating and set a $170.50 price objective on shares of Futu in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.80.

Futu Stock Performance

The firm has a 50 day simple moving average of $133.82 and a two-hundred day simple moving average of $150.38. The firm has a market capitalization of $13.39 billion, a P/E ratio of 10.51, a PEG ratio of 1.09 and a beta of 0.40.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($2.12). Futu had a net margin of 41.87% and a return on equity of 26.48%. The company had revenue of $694.17 million for the quarter, compared to the consensus estimate of $761.35 million. Sell-side analysts anticipate that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Futu Announces Dividend

The firm also recently announced a special dividend, which was paid on Wednesday, April 29th. Stockholders of record on Thursday, April 16th were given a dividend of $2.60 per share. The ex-dividend date of this dividend was Thursday, April 16th. Futu’s dividend payout ratio (DPR) is currently 28.05%.

Institutional Investors Weigh In On Futu

Large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in shares of Futu during the 1st quarter valued at $25,000. Geneos Wealth Management Inc. purchased a new stake in shares of Futu during the 1st quarter valued at $27,000. Rockefeller Capital Management L.P. increased its position in shares of Futu by 59.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock valued at $37,000 after purchasing an additional 84 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Futu during the 4th quarter valued at $49,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Futu by 30,000.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 301 shares of the company’s stock valued at $49,000 after purchasing an additional 300 shares during the last quarter.

Futu Company Profile

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.