Shares of Futu Holdings Limited (NASDAQ:FUTU – Get Free Report) saw strong trading volume on Friday . 5,074,167 shares were traded during trading, an increase of 166% from the previous session’s volume of 1,904,381 shares.The stock last traded at $122.86 and had previously closed at $122.79.
Wall Street Analyst Weigh In
Separately, Bank of America raised their target price on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $72.97.
View Our Latest Stock Analysis on FUTU
Futu Stock Performance
Futu (NASDAQ:FUTU – Get Free Report) last released its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. The business had revenue of $400.73 million during the quarter. On average, equities analysts expect that Futu Holdings Limited will post 4.51 EPS for the current fiscal year.
Hedge Funds Weigh In On Futu
Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in Futu during the 2nd quarter worth $50,000. UniSuper Management Pty Ltd grew its stake in shares of Futu by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $43,000 after acquiring an additional 400 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Futu during the second quarter valued at about $123,000. Atlas Capital Advisors LLC purchased a new position in shares of Futu in the 2nd quarter valued at approximately $142,000. Finally, Barometer Capital Management Inc. acquired a new stake in Futu in the 4th quarter worth approximately $120,000.
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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