Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Sees Significant Decline in Short Interest

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) was the recipient of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 3,084,028 shares, a drop of 15.3% from the February 12th total of 3,640,877 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average trading volume of 1,254,642 shares, the short-interest ratio is presently 2.5 days. Based on an average trading volume of 1,254,642 shares, the short-interest ratio is presently 2.5 days. Currently, 3.4% of the shares of the company are short sold.

Futu Stock Up 0.1%

NASDAQ FUTU opened at $147.43 on Wednesday. The firm has a 50-day moving average price of $157.68 and a two-hundred day moving average price of $168.12. Futu has a 12-month low of $70.60 and a 12-month high of $202.53. The company has a market capitalization of $20.51 billion, a P/E ratio of 14.27, a P/E/G ratio of 0.37 and a beta of 0.38.

Futu (NASDAQ:FUTU) last announced its earnings results on Thursday, March 12th. The company reported $3.07 EPS for the quarter, topping the consensus estimate of $3.06 by $0.01. The company had revenue of $827.15 million for the quarter, compared to analysts’ expectations of $788.73 million. Futu had a net margin of 49.63% and a return on equity of 32.24%. Equities analysts expect that Futu will post 4.94 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on FUTU shares. The Goldman Sachs Group upgraded Futu from a “neutral” rating to a “buy” rating and set a $213.39 target price on the stock in a research note on Monday, February 2nd. Barclays reduced their price target on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Two equities research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $210.57.

Hedge Funds Weigh In On Futu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC grew its holdings in shares of Futu by 2.8% during the 4th quarter. CoreCap Advisors LLC now owns 2,455 shares of the company’s stock worth $403,000 after purchasing an additional 68 shares in the last quarter. Lifestyle Asset Management Inc. lifted its position in Futu by 2.2% during the fourth quarter. Lifestyle Asset Management Inc. now owns 3,420 shares of the company’s stock worth $562,000 after purchasing an additional 72 shares during the period. Orion Porfolio Solutions LLC lifted its position in Futu by 3.3% during the fourth quarter. Orion Porfolio Solutions LLC now owns 2,391 shares of the company’s stock worth $393,000 after purchasing an additional 77 shares during the period. Diversify Wealth Management LLC grew its stake in Futu by 0.9% during the third quarter. Diversify Wealth Management LLC now owns 8,962 shares of the company’s stock worth $1,559,000 after buying an additional 83 shares in the last quarter. Finally, Personal CFO Solutions LLC grew its stake in Futu by 5.1% during the fourth quarter. Personal CFO Solutions LLC now owns 1,713 shares of the company’s stock worth $281,000 after buying an additional 83 shares in 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.