Stock Traders Buy Large Volume of Call Options on Futu (NASDAQ:FUTU)

Futu Holdings Limited (NASDAQ:FUTU) saw unusually large options trading activity on Friday. Investors acquired 21,107 call options on the stock. This represents an increase of approximately 69% compared to the average volume of 12,521 call options.

Futu Price Performance

Shares of FUTU traded up $1.35 during midday trading on Friday, hitting $124.14. The stock had a trading volume of 7,278,330 shares, compared to its average volume of 1,915,861. Futu has a 1 year low of $43.61 and a 1 year high of $127.33. The stock’s 50 day moving average is $66.01 and its 200 day moving average is $65.99. The firm has a market cap of $17.11 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74.

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

Analyst Upgrades and Downgrades

Separately, Bank of America increased their price objective 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.97.

Hedge Funds Weigh In On Futu

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in shares of Futu by 5,847.2% during the third quarter. SG Americas Securities LLC now owns 111,153 shares of the company’s stock valued at $10,632,000 after purchasing an additional 109,284 shares during the period. Creative Planning boosted its position in Futu by 27.8% in the 2nd quarter. Creative Planning now owns 13,253 shares of the company’s stock valued at $869,000 after buying an additional 2,884 shares during the period. Scientech Research LLC purchased a new stake in Futu in the 2nd quarter valued at about $220,000. MBB Public Markets I LLC bought a new position in Futu in the 2nd quarter worth about $276,000. Finally, APG Asset Management N.V. purchased a new position in shares of Futu during the second quarter worth approximately $496,000.

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.