Futu Holdings Limited (NASDAQ:FUTU) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Futu Holdings Limited (NASDAQ:FUTU) have been given an average rating of “Moderate Buy” by the five research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $107.00.

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

Futu Stock Down 1.1 %

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

Hedge Funds Weigh In On Futu

A number of large investors have recently added to or reduced their stakes in the company. Aspex Management HK Ltd raised its holdings in shares of Futu by 2.4% in the third quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock valued at $435,497,000 after purchasing an additional 108,219 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Futu in the 4th quarter valued at $116,315,000. Hhlr Advisors LTD. increased its stake in Futu by 6.4% in the 4th quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company’s stock valued at $89,453,000 after buying an additional 67,214 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in Futu by 170.6% during the 4th quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company’s stock worth $66,459,000 after buying an additional 523,808 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Futu by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 567,635 shares of the company’s stock valued at $44,890,000 after acquiring an additional 21,686 shares in the last quarter.

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.