Freedom (NASDAQ:FRHC) Shares Gap Up – Time to Buy?

Shares of Freedom Holding Corp. (NASDAQ:FRHC) gapped up prior to trading on Monday . The stock had previously closed at $112.03, but opened at $118.26. Freedom shares last traded at $115.7250, with a volume of 4,071 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on FRHC. Loop Capital set a $59.00 target price on Freedom in a report on Thursday, January 22nd. Wall Street Zen raised shares of Freedom from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Freedom in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Freedom presently has a consensus rating of “Sell” and an average target price of $59.00.

Freedom Stock Performance

The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 5,973.50 and a beta of 0.84. The company’s fifty day simple moving average is $125.17 and its two-hundred day simple moving average is $145.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.15 and a quick ratio of 1.15.

Freedom (NASDAQ:FRHC) last posted its earnings results on Monday, February 9th. The company reported $1.25 EPS for the quarter. Freedom had a net margin of 0.13% and a return on equity of 0.21%. The company had revenue of $628.62 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FRHC. Caitong International Asset Management Co. Ltd raised its position in Freedom by 290.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock valued at $25,000 after buying an additional 154 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Freedom by 111.7% in the 4th quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock worth $62,000 after acquiring an additional 267 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Freedom by 4,426.7% in the third quarter. Farther Finance Advisors LLC now owns 679 shares of the company’s stock valued at $117,000 after purchasing an additional 664 shares during the last quarter. Barclays PLC lifted its position in shares of Freedom by 600.8% during the fourth quarter. Barclays PLC now owns 904 shares of the company’s stock valued at $110,000 after purchasing an additional 775 shares in the last quarter. Finally, CFC Planning Co LLC bought a new position in shares of Freedom during the third quarter valued at about $205,000. Hedge funds and other institutional investors own 1.26% of the company’s stock.

About Freedom

Freedom Holding Corp (NASDAQ: FRHC) is a diversified financial services holding company that provides a broad range of brokerage, trading, investment banking, and asset management services. Through its subsidiaries, the company caters to retail, institutional, and corporate clients by offering access to global capital markets, equity and fixed-income trading, and research-driven investment strategies.

The firm’s product suite includes online and over-the-counter brokerage platforms, margin lending, securities underwriting, and M&A advisory services.