Futu Holdings Limited (NASDAQ:FUTU – Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $86.54, but opened at $84.00. Futu shares last traded at $84.00, with a volume of 284,239 shares trading hands.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and upped their target price for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. Bank of America increased their price objective on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.33.
Read Our Latest Research Report on FUTU
Futu Price Performance
Futu Announces Dividend
The business also recently declared a — dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 6th will be issued a $2.00 dividend. The ex-dividend date is Friday, December 6th.
Hedge Funds Weigh In On Futu
Several large investors have recently made changes to their positions in FUTU. Tidal Investments LLC lifted its holdings in Futu by 135.3% in the third quarter. Tidal Investments LLC now owns 9,517 shares of the company’s stock valued at $910,000 after buying an additional 5,472 shares during the period. Virtu Financial LLC raised its position in shares of Futu by 241.1% during the 3rd quarter. Virtu Financial LLC now owns 23,846 shares of the company’s stock valued at $2,281,000 after acquiring an additional 16,855 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Futu by 61.8% in the 3rd quarter. Toronto Dominion Bank now owns 11,482 shares of the company’s stock valued at $1,098,000 after purchasing an additional 4,387 shares during the period. Geode Capital Management LLC boosted its position in shares of Futu by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock worth $51,475,000 after purchasing an additional 17,513 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Futu during the third quarter worth $203,000.
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.
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