Futu (NASDAQ:FUTU) Stock Price Up 7.3% – Should You Buy?

Shares of Futu Holdings Limited (NASDAQ:FUTUGet Free Report) rose 7.3% during trading on Friday . The stock traded as high as $105.60 and last traded at $104.27. Approximately 1,938,449 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 2,226,995 shares. The stock had previously closed at $97.16.

Analyst Upgrades and Downgrades

FUTU has been the subject of several recent research reports. Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and raised their price target for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $115.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.40.

View Our Latest Research Report on FUTU

Futu Trading Up 7.7 %

The stock’s fifty day moving average price is $86.57 and its two-hundred day moving average price is $81.43. The firm has a market capitalization of $14.42 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 0.76 and a beta of 0.76.

Futu Announces Dividend

The company also recently disclosed a — dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 6th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, December 6th.

Institutional Investors Weigh In On Futu

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Aspex Management HK Ltd grew its position in Futu by 2.4% during the 3rd quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock worth $435,497,000 after purchasing an additional 108,219 shares during the last quarter. Hhlr Advisors LTD. grew its position in Futu by 46.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock worth $100,537,000 after purchasing an additional 335,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Futu by 502.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock worth $53,444,000 after purchasing an additional 465,961 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Futu by 3.3% in the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock valued at $51,475,000 after acquiring an additional 17,513 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Futu in the third quarter valued at about $39,943,000.

About Futu

(Get Free Report)

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.

Read More

Receive News & Ratings for Futu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Futu and related companies with MarketBeat.com's FREE daily email newsletter.