Futu (NASDAQ:FUTU) Stock Price Up 4.8% – Time to Buy?

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) rose 4.8% during mid-day trading on Friday . The company traded as high as $164.32 and last traded at $164.08. Approximately 2,028,023 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 2,651,302 shares. The stock had previously closed at $156.60.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Daiwa America raised shares of Futu to a “strong-buy” rating in a report on Tuesday, August 12th. Dbs Bank raised Futu to a “moderate buy” rating in a research note on Thursday, September 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Citigroup boosted their price target on Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st. Finally, Zacks Research downgraded Futu from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Futu currently has a consensus rating of “Moderate Buy” and an average target price of $190.43.

Futu Stock Up 4.4%

The stock has a market capitalization of $22.75 billion, a P/E ratio of 22.68, a PEG ratio of 0.71 and a beta of 0.48. The company has a fifty day moving average price of $176.18 and a 200-day moving average price of $136.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FUTU. Cooper Investors PTY Ltd. purchased a new stake in Futu during the third quarter valued at $29,000. LFA Lugano Financial Advisors SA bought a new stake in shares of Futu in the 2nd quarter worth about $28,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Futu during the 1st quarter valued at about $26,000. Hantz Financial Services Inc. lifted its holdings in shares of Futu by 4,116.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock valued at $31,000 after acquiring an additional 247 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in shares of Futu in the 1st quarter valued at about $27,000.

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.