Futu Holdings Limited Sponsored ADR (FUTU) – What Are Researchers Thinking About This Stock?

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has been given a consensus recommendation of “Hold” by the six brokerages that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $139.91.

Several equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Futu from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Zacks Research raised Futu from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, Wall Street Zen upgraded Futu from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd.

Futu Trading Down 4.0%

FUTU stock opened at $109.45 on Friday. The company has a market capitalization of $15.34 billion, a PE ratio of 10.84, a P/E/G ratio of 1.13 and a beta of 0.45. The business’s fifty day moving average price is $113.14 and its 200 day moving average price is $117.06. Futu has a 12-month low of $80.50 and a 12-month high of $202.53.

Futu (NASDAQ:FUTU) last posted 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 business had revenue of $852.66 million during the quarter, compared to the consensus estimate of $786.07 million. Futu had a net margin of 42.95% and a return on equity of 28.20%. Research analysts predict that Futu will post 9.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Futu

Hedge funds have recently added to or reduced their stakes in the stock. Aspex Management HK Ltd boosted its stake in shares of Futu by 37.5% in 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 in the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its position in Futu by 9.8% in the second quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,093,634 shares of the company’s stock worth $102,517,000 after acquiring an additional 97,286 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Futu in the second quarter worth $61,574,000. Hsbc Holdings PLC lifted its holdings in Futu by 7.2% in the first 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 period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Futu by 576.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 287,000 shares of the company’s stock valued at $39,250,000 after acquiring an additional 244,600 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.