Futu (NASDAQ:FUTU) Shares Gap Down to $31.28

Futu Holdings Limited (NASDAQ:FUTU – Get Rating) shares gapped down before the market opened on Monday . The stock had previously closed at $31.28, but opened at $29.50. Futu shares last traded at $30.33, with a volume of 30,877 shares trading hands.

FUTU has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Futu from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 8th. Citigroup reduced their target price on shares of Futu from $79.00 to $46.50 in a report on Monday, March 14th. CLSA downgraded shares of Futu from an “outperform” rating to an “underperform” rating and cut their price target for the company from $64.00 to $27.00 in a report on Monday, March 14th. Finally, TheStreet upgraded shares of Futu from a “d+” rating to a “c” rating in a report on Monday, March 14th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $100.68.

The stock’s 50-day moving average is $36.78 and its 200 day moving average is $45.80. The company has a market cap of $4.74 billion, a PE ratio of 12.95, a PEG ratio of 1.11 and a beta of 0.85.

Futu (NASDAQ:FUTU – Get Rating) last posted its earnings results on Friday, March 11th. The company reported $3.44 EPS for the quarter, missing the Zacks’ consensus estimate of $4.35 by ($0.91). Futu had a net margin of 39.50% and a return on equity of 15.41%. As a group, research analysts predict that Futu Holdings Limited will post 1.92 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of FUTU. Wells Fargo & Company MN lifted its position in Futu by 15.3% during the second quarter. Wells Fargo & Company MN now owns 7,536 shares of the company’s stock valued at $1,350,000 after acquiring an additional 1,001 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Futu by 22.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 34,200 shares of the company’s stock worth $3,113,000 after buying an additional 6,300 shares during the period. GWM Advisors LLC lifted its stake in shares of Futu by 10.5% during the third quarter. GWM Advisors LLC now owns 3,117 shares of the company’s stock worth $284,000 after buying an additional 297 shares during the period. New York State Common Retirement Fund acquired a new stake in shares of Futu during the third quarter worth $27,000. Finally, Deutsche Bank AG lifted its stake in shares of Futu by 47.7% during the third quarter. Deutsche Bank AG now owns 338,458 shares of the company’s stock worth $30,806,000 after buying an additional 109,282 shares during the period. 23.33% of the stock is owned by institutional investors.

About Futu (NASDAQ:FUTU)

Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program. It also offers online wealth management services under the brand of Futu Money Plus through its Futubull and moomoo platforms, which give access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas.

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