Freedom (NASDAQ:FRHC) Shares Gap Up – Here’s What Happened

Freedom Holding Corp. (NASDAQ:FRHC)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $112.03, but opened at $118.26. Freedom shares last traded at $115.7250, with a volume of 4,071 shares.

Analyst Ratings Changes

FRHC has been the topic of several research analyst reports. Loop Capital set a $59.00 price objective on Freedom in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Freedom from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Freedom in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell” and a consensus target price of $59.00.

Freedom Trading Down 4.9%

The firm has a market cap of $6.96 billion, a P/E ratio of 5,697.50 and a beta of 0.84. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a fifty day moving average of $125.73 and a 200-day moving average of $146.57.

Freedom (NASDAQ:FRHC) last issued its earnings results on Monday, February 9th. The company reported $1.25 earnings per share for the quarter. The firm had revenue of $628.62 million for the quarter. Freedom had a return on equity of 0.21% and a net margin of 0.13%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in Freedom by 290.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock valued at $25,000 after acquiring an additional 154 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Freedom by 111.7% in the 4th quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock worth $62,000 after purchasing an additional 267 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Freedom by 4,426.7% during the third quarter. Farther Finance Advisors LLC now owns 679 shares of the company’s stock valued at $117,000 after purchasing an additional 664 shares during the last quarter. Barclays PLC boosted its holdings in Freedom by 600.8% during the fourth quarter. Barclays PLC now owns 904 shares of the company’s stock worth $110,000 after buying an additional 775 shares in the last quarter. Finally, CFC Planning Co LLC acquired a new position in Freedom in the third quarter worth approximately $205,000. Institutional investors own 1.26% of the company’s stock.

About Freedom

Freedom Holding Corp (NASDAQ: FRHC) is a diversified financial services holding company that provides a broad range of brokerage, trading, investment banking, and asset management services. Through its subsidiaries, the company caters to retail, institutional, and corporate clients by offering access to global capital markets, equity and fixed-income trading, and research-driven investment strategies.

The firm’s product suite includes online and over-the-counter brokerage platforms, margin lending, securities underwriting, and M&A advisory services.