Futu (NASDAQ:FUTU) Stock Price Up 6.9% – Should You Buy?

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)’s stock price traded up 6.9% during trading on Wednesday . The stock traded as high as $99.61 and last traded at $97.6470. 1,065,565 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 2,644,834 shares. The stock had previously closed at $91.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen lowered Futu from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Barclays cut their price objective on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Jefferies Financial Group restated a “buy” rating and set a $170.50 price objective on shares of Futu in a research report on Thursday, May 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $87.00 price objective (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. Finally, Zacks Research lowered Futu from a “hold” rating to a “strong sell” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Futu Stock Performance

The stock’s fifty day moving average is $135.41 and its 200 day moving average is $151.28. The stock has a market cap of $13.27 billion, a P/E ratio of 10.42, a P/E/G ratio of 1.07 and a beta of 0.40.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($2.12). The business had revenue of $694.17 million during the quarter, compared to the consensus estimate of $761.35 million. Futu had a net margin of 41.87% and a return on equity of 26.48%. Equities research analysts predict that Futu Holdings Limited Sponsored ADR will post 8.95 EPS for the current year.

Futu Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Investors of record on Thursday, April 16th were issued a dividend of $2.60 per share. The ex-dividend date of this dividend was Thursday, April 16th. Futu’s dividend payout ratio (DPR) is presently 28.05%.

Hedge Funds Weigh In On Futu

Several institutional investors have recently bought and sold shares of FUTU. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Futu by 805.2% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock valued at $195,933,000 after buying an additional 1,002,171 shares during the period. Aspex Management HK Ltd increased its holdings in Futu by 37.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock valued at $553,650,000 after buying an additional 919,724 shares during the period. Tredje AP fonden grew its holdings in Futu by 3,579.1% in the third quarter. Tredje AP fonden now owns 688,000 shares of the company’s stock worth $119,650,000 after purchasing an additional 669,300 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Futu by 25,558,100.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 511,164 shares of the company’s stock worth $83,938,000 after purchasing an additional 511,162 shares during the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. purchased a new position in Futu in the third quarter worth $64,250,000.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.