Futu Holdings Limited (NASDAQ:FUTU) Short Interest Update

Futu Holdings Limited (NASDAQ:FUTU) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 5,090,000 shares, a decrease of 5.0% from the September 30th total of 5,360,000 shares. Based on an average trading volume of 3,940,000 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Investors Weigh In On Futu

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. APG Asset Management N.V. bought a new position in shares of Futu during the 2nd quarter valued at $496,000. Sei Investments Co. raised its holdings in shares of Futu by 261.3% during the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company’s stock valued at $1,663,000 after purchasing an additional 18,334 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Futu during the 1st quarter valued at $747,000. Seven Eight Capital LP bought a new position in shares of Futu during the 2nd quarter valued at $1,956,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Futu by 221.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 90,000 shares of the company’s stock valued at $5,904,000 after purchasing an additional 62,000 shares in the last quarter.

Futu Stock Up 0.1 %

FUTU stock opened at $95.08 on Friday. Futu has a 12-month low of $43.61 and a 12-month high of $130.50. The company has a market cap of $13.10 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 1.00 and a beta of 0.74. The company has a 50 day moving average of $82.99 and a two-hundred day moving average of $72.47.

Futu (NASDAQ:FUTU) last released its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. The company had revenue of $400.73 million during the quarter. On average, research analysts anticipate that Futu will post 4.75 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Bank of America upped their price target 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 equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.97.

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.