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

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) saw unusually-high trading volume on Thursday . Approximately 2,148,571 shares traded hands during mid-day 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.

Wall Street Analysts Forecast Growth

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

Futu Price Performance

The business has a fifty day simple moving average of $148.62 and a 200 day simple moving average of $161.24. The firm has a market cap 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 announced its earnings results on Sunday, February 15th. The company reported $3.07 earnings per share (EPS) for the quarter. The company had revenue of $771.00 million for the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. On average, research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 11.78 earnings per share for the current fiscal year.

Futu Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FUTU. V Square Quantitative Management LLC purchased a new stake in shares of Futu in the 1st quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Futu during the 1st quarter worth about $27,000. Rockefeller Capital Management L.P. raised its holdings in Futu by 59.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock valued at $37,000 after buying an additional 84 shares during the period. TD Private Client Wealth LLC lifted its position in Futu by 6,075.0% in the third quarter. TD Private Client Wealth LLC now owns 247 shares of the company’s stock valued at $43,000 after buying an additional 243 shares during the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new position in Futu during the fourth quarter worth about $49,000.

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.