Futu (NASDAQ:FUTU) Stock Price Down 4.8% – Here’s Why

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) traded down 4.8% during mid-day trading on Friday. The company traded as low as $102.00 and last traded at $101.3450. 851,703 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 2,120,242 shares. The stock had previously closed at $106.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a report on Friday, September 25th. Zacks Research upgraded Futu from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, Wall Street Zen raised Futu from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.91.

Futu Price Performance

The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.23 and a beta of 0.46. The stock’s 50 day simple moving average is $112.13 and its 200-day simple moving average is $119.03.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Thursday, August 20th. The company reported $3.33 EPS for the quarter, topping the consensus estimate of $2.98 by $0.35. The company had revenue of $852.66 million for 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, equities research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 9.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Futu

Institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new stake in shares of Futu during the 1st quarter worth about $25,000. Rockefeller Capital Management L.P. raised its stake in shares of Futu by 59.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock valued at $37,000 after acquiring an additional 84 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Futu in the 4th quarter worth approximately $49,000. EverSource Wealth Advisors LLC lifted its holdings in Futu by 58.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the company’s stock worth $165,000 after purchasing an additional 443 shares during the last quarter. Finally, State of Wyoming boosted its position in Futu by 21.4% during the first quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $209,000 after purchasing an additional 270 shares during the period.

Futu Company Profile

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.