Futu (NASDAQ:FUTU) Sees Large Volume Increase

Shares of Futu Holdings Limited (NASDAQ:FUTU) saw an uptick in trading volume on Tuesday . 1,157,204 shares changed hands during trading, a decline of 19% from the previous session’s volume of 1,436,886 shares.The stock last traded at $60.18 and had previously closed at $62.52.

Analyst Ratings Changes

A number of analysts have issued reports on FUTU shares. Bank of America boosted their price objective on shares of Futu from $81.00 to $85.80 and gave the company a “buy” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. raised Futu from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $62.00 to $92.00 in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.37.

Futu Trading Down 4.4 %

The firm’s 50-day moving average price is $64.62 and its 200 day moving average price is $62.35. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 0.93 and a beta of 0.74.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Tuesday, May 28th. The company reported $0.95 EPS for the quarter. Futu had a net margin of 40.86% and a return on equity of 17.16%. The business had revenue of $331.27 million during the quarter. During the same quarter in the prior year, the firm earned $1.08 earnings per share. As a group, equities research analysts anticipate that Futu Holdings Limited will post 4.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Futu

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its stake in Futu by 3.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock valued at $394,000 after purchasing an additional 230 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Futu by 8.4% in the 2nd quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock valued at $210,000 after acquiring an additional 247 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Futu by 6.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock valued at $238,000 after acquiring an additional 269 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Futu by 8.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $206,000 after acquiring an additional 300 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Futu by 3.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,123 shares of the company’s stock worth $602,000 after purchasing an additional 343 shares in the last quarter.

About Futu

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.