Futu (NASDAQ:FUTU) Shares Gap Up – Still a Buy?

Futu Holdings Limited (NASDAQ:FUTU)’s share price gapped up prior to trading on Monday . The stock had previously closed at $105.64, but opened at $110.30. Futu shares last traded at $105.45, with a volume of 815,369 shares traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FUTU shares. Citigroup cut Futu from a “buy” rating to a “neutral” rating and upped their price target for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.40.

Futu Trading Down 1.6 %

The firm has a market capitalization of $14.59 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 0.77 and a beta of 0.76. The company has a fifty day moving average price of $87.39 and a two-hundred day moving average price of $82.35.

Futu Announces Dividend

The business also recently announced a — dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 6th were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, December 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after buying an additional 383 shares during the period. CWM LLC grew its position in Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after acquiring an additional 300 shares during the period. Creative Planning increased its stake in Futu by 6.3% during the third quarter. Creative Planning now owns 14,091 shares of the company’s stock worth $1,348,000 after acquiring an additional 838 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Futu in the 3rd quarter valued at $356,000. Finally, Blue Trust Inc. grew its holdings in shares of Futu by 242.1% during the 3rd quarter. Blue Trust Inc. now owns 8,889 shares of the company’s stock worth $850,000 after purchasing an additional 6,291 shares during the period.

Futu Company Profile

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.