Futu Holdings Limited (NASDAQ:FUTU) Short Interest Down 6.7% in December

Futu Holdings Limited (NASDAQ:FUTU) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 4,160,000 shares, a decline of 6.7% from the December 15th total of 4,460,000 shares. Based on an average trading volume of 3,240,000 shares, the short-interest ratio is currently 1.3 days.

Institutional Investors Weigh In On Futu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUTU. SG Americas Securities LLC grew its holdings in shares of Futu by 236.6% in the 4th quarter. SG Americas Securities LLC now owns 374,193 shares of the company’s stock valued at $29,932,000 after acquiring an additional 263,040 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in Futu during the fourth quarter valued at approximately $457,000. Harbour Capital Advisors LLC grew its stake in Futu by 101.5% in the fourth quarter. Harbour Capital Advisors LLC now owns 7,495 shares of the company’s stock valued at $604,000 after purchasing an additional 3,775 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Futu by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock worth $62,000 after purchasing an additional 184 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Futu by 135.3% during the 3rd quarter. Tidal Investments LLC now owns 9,517 shares of the company’s stock worth $910,000 after purchasing an additional 5,472 shares in the last quarter.

Futu Stock Performance

NASDAQ FUTU traded up $7.13 during trading on Friday, hitting $87.53. The stock had a trading volume of 5,329,866 shares, compared to its average volume of 1,312,648. Futu has a 12 month low of $43.61 and a 12 month high of $130.50. The company’s 50-day moving average price is $84.83 and its two-hundred day moving average price is $78.81. The company has a market capitalization of $12.06 billion, a PE ratio of 21.45, a P/E/G ratio of 0.60 and a beta of 0.75.

Futu Dividend Announcement

The firm also recently announced a — dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 6th were issued a dividend of $2.00 per share. The ex-dividend date was Friday, December 6th.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FUTU shares. Bank of America increased their price target on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. Finally, Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and lifted their price target for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

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.