Futu Holdings Limited (NASDAQ:FUTU) Receives Average Rating of “Moderate Buy” from Brokerages

Futu Holdings Limited (NASDAQ:FUTU) has been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $107.00.

Several research firms have recently commented on FUTU. UBS Group upped their target price on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. upped their price objective on Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup cut Futu from a “buy” rating to a “neutral” rating and raised their target price for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. Finally, Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $115.00 in a research report on Monday, November 18th.

Futu Trading Down 1.1 %

Futu stock traded down $1.36 during midday trading on Monday, hitting $117.11. The stock had a trading volume of 4,035,803 shares, compared to its average volume of 2,525,106. The business has a fifty day moving average price of $101.39 and a 200 day moving average price of $91.43. Futu has a 12 month low of $51.80 and a 12 month high of $130.88. The stock has a market cap of $16.14 billion, a P/E ratio of 28.70, a P/E/G ratio of 0.79 and a beta of 0.78.

Hedge Funds Weigh In On Futu

A number of hedge funds have recently added to or reduced their stakes in FUTU. Smartleaf Asset Management LLC boosted its stake in shares of Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock worth $36,000 after acquiring an additional 411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock worth $36,000 after purchasing an additional 197 shares during the period. Rakuten Securities Inc. grew its holdings in Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock valued at $55,000 after purchasing an additional 482 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Futu in the fourth quarter valued at approximately $60,000. Finally, Assetmark Inc. lifted its stake in shares of Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company’s stock worth $61,000 after buying an additional 760 shares during the last quarter.

Futu Company Profile

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.