OneConnect Financial Technology Co., Ltd. (NYSE:OCFT – Get Free Report) traded down 4.2% during mid-day trading on Wednesday . The stock traded as low as $1.77 and last traded at $1.82. 23,633 shares traded hands during mid-day trading, an increase of 13% from the average session volume of 20,873 shares. The stock had previously closed at $1.90.
Analysts Set New Price Targets
Separately, Citigroup upped their price target on shares of OneConnect Financial Technology from $6.98 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th.
Get Our Latest Report on OneConnect Financial Technology
OneConnect Financial Technology Price Performance
OneConnect Financial Technology (NYSE:OCFT – Get Free Report) last announced its quarterly earnings results on Monday, March 18th. The company reported ($0.31) EPS for the quarter. The business had revenue of $128.31 million for the quarter, compared to the consensus estimate of $117.43 million. OneConnect Financial Technology had a negative net margin of 9.90% and a negative return on equity of 11.80%. On average, equities analysts predict that OneConnect Financial Technology Co., Ltd. will post -1.15 earnings per share for the current year.
Institutional Trading of OneConnect Financial Technology
A number of hedge funds and other institutional investors have recently bought and sold shares of OCFT. Renaissance Technologies LLC grew its stake in shares of OneConnect Financial Technology by 173.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,484,124 shares of the company’s stock worth $2,093,000 after acquiring an additional 940,910 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of OneConnect Financial Technology by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,799,149 shares of the company’s stock worth $3,465,000 after acquiring an additional 387,100 shares in the last quarter. Jane Street Group LLC grew its stake in shares of OneConnect Financial Technology by 261.5% in the 2nd quarter. Jane Street Group LLC now owns 459,527 shares of the company’s stock worth $786,000 after acquiring an additional 332,393 shares in the last quarter. Norges Bank bought a new stake in shares of OneConnect Financial Technology in the 4th quarter worth $865,000. Finally, ExodusPoint Capital Management LP grew its stake in shares of OneConnect Financial Technology by 935.6% in the 2nd quarter. ExodusPoint Capital Management LP now owns 145,194 shares of the company’s stock worth $248,000 after acquiring an additional 131,174 shares in the last quarter. Institutional investors own 4.05% of the company’s stock.
About OneConnect Financial Technology
OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It offers AI Banker App to banks' relationship managers for managing the acquisition of retail customers and their relationships with retail customers; retail banking operation management platform for monitor retail banking business; wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business; customer incentive and management platform, which helps banks to set up their own customer reward portals; and intelligent risk management solutions.
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