Futu (NASDAQ:FUTU) Trading Up 6.3%


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Futu Holdings Limited (NASDAQ:FUTU) shares were up 6.3% during trading on Thursday . The stock traded as high as $154.94 and last traded at $153.11. Approximately 150,116 shares traded hands during trading, a decline of 99% from the average daily volume of 11,238,163 shares. The stock had previously closed at $143.98.

Several research analysts have commented on FUTU shares. BOCOM International started coverage on Futu in a research report on Monday, January 18th. They set a “buy” rating on the stock. Citigroup reaffirmed a “buy” rating on shares of Futu in a research report on Wednesday, March 17th. Morgan Stanley started coverage on Futu in a research report on Tuesday, February 16th. They set an “overweight” rating and a $253.00 price target on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell dropped their target price on Futu from $246.50 to $230.30 and set a “buy” rating on the stock in a report on Tuesday, March 23rd. Finally, 86 Research lowered Futu from a “buy” rating to a “hold” rating and set a $171.00 target price on the stock. in a report on Monday, February 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Futu presently has a consensus rating of “Buy” and an average target price of $225.20.

The stock has a fifty day moving average of $148.24 and a two-hundred day moving average of $81.35. The stock has a market cap of $20.80 billion, a price-to-earnings ratio of 181.32 and a beta of 1.76.

A number of large investors have recently made changes to their positions in FUTU. BlackRock Inc. increased its stake in Futu by 404.3% during the third quarter. BlackRock Inc. now owns 84,007 shares of the company’s stock worth $2,403,000 after acquiring an additional 67,350 shares during the last quarter. Morgan Stanley increased its stake in Futu by 178.2% during the third quarter. Morgan Stanley now owns 37,746 shares of the company’s stock worth $1,081,000 after acquiring an additional 24,178 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Futu during the third quarter worth about $544,000. Cubist Systematic Strategies LLC increased its stake in Futu by 82.5% during the third quarter. Cubist Systematic Strategies LLC now owns 103,724 shares of the company’s stock worth $2,969,000 after acquiring an additional 46,891 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Futu in the third quarter valued at about $500,000. Institutional investors own 14.46% of the company’s stock.

Futu Company Profile (NASDAQ:FUTU)

Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program. It also offers online wealth management services under the Futu Money Plus brand, which gives access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas.

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