Futu (NASDAQ:FUTU) Stock Price Up 8.2% – Still a Buy?

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) rose 8.2% on Monday. The company traded as high as $110.42 and last traded at $110.5850. Approximately 1,143,645 shares changed hands during trading, a decline of 46% from the average daily volume of 2,121,794 shares. The stock had previously closed at $102.17.

Analyst Ratings Changes

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

Futu Price Performance

The stock’s 50-day moving average price is $112.52 and its 200-day moving average price is $118.21. The company has a market cap of $15.87 billion, a P/E ratio of 11.21, a PEG ratio of 1.22 and a beta of 0.45.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Thursday, August 20th. The company reported $3.33 EPS for the quarter, beating the consensus estimate of $2.98 by $0.35. Futu had a net margin of 42.95% and a return on equity of 28.20%. The business had revenue of $852.66 million during the quarter, compared to the consensus estimate of $786.07 million. As a group, analysts expect that Futu Holdings Limited Sponsored ADR will post 9.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC lifted its holdings in shares of Futu by 7.0% in the second quarter. Sequoia Financial Advisors LLC now owns 4,797 shares of the company’s stock worth $450,000 after acquiring an additional 315 shares during the last quarter. Nykredit A S bought a new position in Futu in the 2nd quarter valued at approximately $1,607,000. Corient Private Wealth LP boosted its position in Futu by 39.9% in the second quarter. Corient Private Wealth LP now owns 2,428 shares of the company’s stock valued at $228,000 after buying an additional 693 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. grew its stake in shares of Futu by 9.8% during 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 buying an additional 97,286 shares during the last quarter. Finally, SkyOak Wealth LLC acquired a new position in shares of Futu during the second quarter worth $207,000.

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.