Freedom (NASDAQ:FRHC) Sees Strong Trading Volume – What’s Next?

Shares of Freedom Holding Corp. (NASDAQ:FRHC) saw unusually-strong trading volume on Thursday . Approximately 170,835 shares were traded during mid-day trading, an increase of 52% from the previous session’s volume of 112,289 shares.The stock last traded at $155.9350 and had previously closed at $158.56.

Analysts Set New Price Targets

A number of research analysts recently commented on FRHC shares. Weiss Ratings raised Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday. Loop Capital set a $138.00 price objective on shares of Freedom in a research note on Thursday, February 26th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $138.00.

Freedom Stock Down 0.2%

The stock has a 50 day moving average price of $148.11 and a 200-day moving average price of $135.59. The stock has a market capitalization of $9.70 billion, a P/E ratio of 62.83 and a beta of 0.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.03 and a quick ratio of 1.15.

Freedom (NASDAQ:FRHC) last announced its quarterly earnings results on Monday, June 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.74). The firm had revenue of $486.15 million for the quarter, compared to analysts’ expectations of $124.14 million. Freedom had a net margin of 7.00% and a return on equity of 11.50%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its holdings in Freedom by 290.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock worth $25,000 after purchasing an additional 154 shares in the last quarter. Parallel Advisors LLC boosted its position in Freedom by 476.2% during the 1st quarter. Parallel Advisors LLC now owns 363 shares of the company’s stock valued at $53,000 after acquiring an additional 300 shares in the last quarter. Wells Fargo & Company MN boosted its position in Freedom by 111.7% during the 4th quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock valued at $62,000 after acquiring an additional 267 shares in the last quarter. Royal Bank of Canada boosted its position in Freedom by 67.2% during the 1st quarter. Royal Bank of Canada now owns 587 shares of the company’s stock valued at $85,000 after acquiring an additional 236 shares in the last quarter. Finally, Barclays PLC boosted its position in Freedom by 600.8% during the 4th quarter. Barclays PLC now owns 904 shares of the company’s stock valued at $110,000 after acquiring an additional 775 shares in the last quarter. 1.26% of the stock is currently owned by institutional investors.

Freedom Company Profile

Freedom Holding Corp (NASDAQ: FRHC) is a diversified financial services holding company that provides a broad range of brokerage, trading, investment banking, and asset management services. Through its subsidiaries, the company caters to retail, institutional, and corporate clients by offering access to global capital markets, equity and fixed-income trading, and research-driven investment strategies.

The firm’s product suite includes online and over-the-counter brokerage platforms, margin lending, securities underwriting, and M&A advisory services.