Futu Holdings Limited (NASDAQ:FUTU – Get Free Report) was up 3.8% during mid-day trading on Tuesday . The company traded as high as $100.56 and last traded at $99.30. Approximately 1,761,206 shares traded hands during trading, an increase of 9% from the average daily volume of 1,612,058 shares. The stock had previously closed at $95.65.
Analyst Ratings Changes
Separately, Bank of America boosted their price objective on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.97.
Read Our Latest Report on Futu
Futu Price Performance
Futu (NASDAQ:FUTU – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $400.73 million for the quarter. On average, analysts forecast that Futu Holdings Limited will post 4.51 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Futu
Large investors have recently bought and sold shares of the company. Creative Planning lifted its holdings in shares of Futu by 27.8% in the second quarter. Creative Planning now owns 13,253 shares of the company’s stock worth $869,000 after acquiring an additional 2,884 shares during the last quarter. Scientech Research LLC bought a new position in shares of Futu in the second quarter worth about $220,000. MBB Public Markets I LLC bought a new position in shares of Futu in the second quarter worth about $276,000. APG Asset Management N.V. bought a new position in shares of Futu in the second quarter worth about $496,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Futu in the second quarter worth about $6,133,000.
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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