Futu (NASDAQ:FUTU) Stock Price Up 4.2% – What’s Next?

Futu Holdings Limited (NASDAQ:FUTU) was up 4.2% during trading on Tuesday . The company traded as high as $86.45 and last traded at $85.94. Approximately 938,337 shares traded hands during trading, a decline of 60% from the average daily volume of 2,370,639 shares. The stock had previously closed at $82.45.

Analyst Upgrades and Downgrades

FUTU has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and increased their price target for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. Finally, Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $115.00 in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.33.

Futu Trading Up 4.5 %

The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 0.88 and a beta of 0.72. The business has a 50-day moving average price of $92.73 and a two-hundred day moving average price of $76.99.

Futu Dividend Announcement

The business also recently announced a — dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 6th will be given a $2.00 dividend. The ex-dividend date of this dividend is Friday, December 6th.

Hedge Funds Weigh In On Futu

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in Futu in the 2nd quarter valued at about $50,000. GAMMA Investing LLC raised its holdings in shares of Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after buying an additional 383 shares during the last quarter. CWM LLC boosted its position in shares of Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after buying an additional 300 shares during the period. Venturi Wealth Management LLC bought a new position in Futu in the 3rd quarter worth approximately $92,000. Finally, SG Americas Securities LLC bought a new position in Futu in the 2nd quarter worth approximately $123,000.

Futu Company Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.