Futu Holdings Limited (NASDAQ:FUTU) Short Interest Update

Futu Holdings Limited (NASDAQ:FUTU) was the target of a large decrease in short interest during the month of 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 daily trading volume, of 3,940,000 shares, the short-interest ratio is presently 1.3 days.

Institutional Trading of Futu

A number of institutional investors have recently made changes to their positions in FUTU. Sequoia Financial Advisors LLC lifted its stake in shares of Futu by 6.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock worth $238,000 after acquiring an additional 269 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Futu by 6.7% in the 1st quarter. BNP Paribas Financial Markets now owns 100,616 shares of the company’s stock worth $5,448,000 after acquiring an additional 6,317 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Futu by 24.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,318 shares of the company’s stock worth $559,000 after acquiring an additional 2,011 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Futu by 8.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $206,000 after acquiring an additional 300 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in Futu by 32.0% during the first quarter. GSA Capital Partners LLP now owns 52,941 shares of the company’s stock valued at $2,867,000 after purchasing an additional 12,840 shares during the last quarter.

Analysts Set New Price Targets

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 research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.97.

Futu Stock Up 0.1 %

Futu stock opened at $95.08 on Friday. The firm has a 50-day moving average price of $82.99 and a two-hundred day moving average price of $72.47. The firm has a market capitalization of $13.10 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 1.00 and a beta of 0.74. Futu has a 52-week low of $43.61 and a 52-week high of $130.50.

Futu (NASDAQ:FUTU) last posted its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. The firm 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%. Research analysts expect that Futu will post 4.75 earnings per share for the current 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.