Investors Purchase High Volume of Futu Call Options (NASDAQ:FUTU)

Futu Holdings Limited (NASDAQ:FUTU) was the target of unusually large options trading activity on Thursday. Investors purchased 13,534 call options on the company. This is an increase of approximately 73% compared to the typical daily volume of 7,810 call options.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FUTU shares. Bank of America boosted their target price on shares of Futu from $77.60 to $80.20 and gave the company a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised shares of Futu from a “neutral” rating to an “overweight” rating and raised their target price for the company from $62.00 to $92.00 in a research note on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.57.

Hedge Funds Weigh In On Futu

Several hedge funds have recently added to or reduced their stakes in FUTU. UniSuper Management Pty Ltd grew its holdings in Futu by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $43,000 after acquiring an additional 400 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Futu during the second quarter worth about $50,000. Barometer Capital Management Inc. acquired a new position in Futu in the 4th quarter worth approximately $120,000. SG Americas Securities LLC purchased a new position in Futu in the 2nd quarter valued at about $123,000. Finally, Atlas Capital Advisors LLC acquired a new stake in Futu in the 2nd quarter worth about $142,000.

Futu Stock Performance

Shares of FUTU stock traded up $7.76 on Thursday, reaching $67.27. The stock had a trading volume of 2,317,153 shares, compared to its average volume of 1,424,722. Futu has a 1 year low of $43.61 and a 1 year high of $81.86. The company has a 50 day simple moving average of $61.01 and a 200 day simple moving average of $63.82. The stock has a market cap of $9.27 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 0.92 and a beta of 0.72.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The firm had revenue of $400.73 million for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. On average, equities research analysts anticipate that Futu will post 4.51 earnings per share for the current fiscal year.

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.