Short Interest in Freedom Holding Corp. (NASDAQ:FRHC) Grows By 19.2%

Freedom Holding Corp. (NASDAQ:FRHC) saw a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 988,087 shares, an increase of 19.2% from the February 12th total of 829,066 shares. Based on an average trading volume of 110,954 shares, the short-interest ratio is currently 8.9 days. Approximately 5.4% of the shares of the stock are sold short. Approximately 5.4% of the shares of the stock are sold short. Based on an average trading volume of 110,954 shares, the short-interest ratio is currently 8.9 days.

Analyst Ratings Changes

FRHC has been the topic of a number of research reports. Loop Capital set a $138.00 price target on Freedom in a report on Thursday, February 26th. Wall Street Zen raised Freedom from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Freedom in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and a consensus price target of $138.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. acquired a new stake in shares of Freedom during the 2nd quarter worth about $1,348,000. Highland Capital Management LLC acquired a new position in shares of Freedom in the third quarter valued at approximately $1,609,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Freedom in the second quarter valued at approximately $1,584,000. Geode Capital Management LLC lifted its stake in shares of Freedom by 198.5% during the second quarter. Geode Capital Management LLC now owns 159,904 shares of the company’s stock valued at $23,350,000 after buying an additional 106,338 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Freedom by 188.6% during the third quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company’s stock worth $13,094,000 after acquiring an additional 49,712 shares during the last quarter. Institutional investors and hedge funds own 1.26% of the company’s stock.

Freedom Price Performance

Shares of Freedom stock traded up $0.18 during trading on Tuesday, hitting $136.41. 87,678 shares of the company were exchanged, compared to its average volume of 113,335. Freedom has a fifty-two week low of $107.97 and a fifty-two week high of $194.01. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average price of $125.09 and a 200 day moving average price of $141.02. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 6,820.50 and a beta of 0.84.

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

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.