Futu (NASDAQ:FUTU) Sees Large Volume Increase – What’s Next?

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) saw unusually-high trading volume on Thursday . Approximately 2,148,571 shares were traded during trading, an increase of 35% from the previous session’s volume of 1,595,649 shares.The stock last traded at $138.3380 and had previously closed at $142.74.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FUTU shares. Zacks Research lowered shares of Futu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. The Goldman Sachs Group set a $205.00 price objective on shares of Futu in a research note on Monday, May 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Finally, Barclays cut their price objective on shares of Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Futu has a consensus rating of “Moderate Buy” and an average target price of $209.17.

Futu Trading Down 1.0%

The business’s fifty day moving average price is $148.62 and its 200 day moving average price is $161.24. The firm has a market capitalization of $19.80 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.95 and a beta of 0.52.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Sunday, February 15th. The company reported $3.07 earnings per share for the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. The firm had revenue of $771.00 million for the quarter. As a group, sell-side analysts forecast that Futu Holdings Limited Sponsored ADR will post 11.78 earnings per share for the current fiscal year.

Futu Announces Dividend

The firm also recently announced a special dividend, which was paid on Wednesday, April 29th. Shareholders of record on Thursday, April 16th were given a dividend of $2.60 per share. The ex-dividend date was Thursday, April 16th. Futu’s payout ratio is presently 24.81%.

Hedge Funds Weigh In On Futu

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in shares of Futu during the 1st quarter worth $25,000. Rockefeller Capital Management L.P. boosted its position in shares of Futu by 59.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Futu by 6,075.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 247 shares of the company’s stock valued at $43,000 after purchasing an additional 243 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in Futu in the 1st quarter valued at approximately $27,000. Finally, Quarry LP purchased a new position in Futu in the 3rd quarter valued at approximately $51,000.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.