OneConnect Financial Technology (NYSE:OCFT) Trading 4.5% Higher – Time to Buy?

Shares of OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) traded up 4.5% during mid-day trading on Wednesday . The company traded as high as $2.50 and last traded at $2.34. 43,765 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 49,257 shares. The stock had previously closed at $2.24.

OneConnect Financial Technology Price Performance

The stock has a market cap of $100.81 million, a PE ratio of -1.87 and a beta of 0.67. The stock’s fifty day moving average is $1.78 and its 200-day moving average is $1.85.

OneConnect Financial Technology (NYSE:OCFT) last released its quarterly earnings data on Friday, August 16th. The company reported ($0.06) EPS for the quarter. The business had revenue of $95.64 million during the quarter. OneConnect Financial Technology had a negative net margin of 1.09% and a negative return on equity of 8.09%.

Hedge Funds Weigh In On OneConnect Financial Technology

An institutional investor recently bought a new position in OneConnect Financial Technology stock. M&G Plc acquired a new position in shares of OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,324,592 shares of the company’s stock, valued at approximately $2,941,000. M&G Plc owned 3.40% of OneConnect Financial Technology at the end of the most recent quarter. 4.05% of the stock is owned by institutional investors and hedge funds.

About OneConnect Financial Technology

OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business.