Futu (NASDAQ:FUTU) Stock Price Down 6.4% – Time to Sell?

Futu Holdings Limited (NASDAQ:FUTU) shares fell 6.4% during mid-day trading on Tuesday . The stock traded as low as $95.39 and last traded at $95.43. 375,028 shares traded hands during trading, a decline of 84% from the average session volume of 2,344,484 shares. The stock had previously closed at $101.91.

Analysts Set New Price Targets

Separately, 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 note on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.97.

Futu Stock Performance

The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 0.98 and a beta of 0.75. The firm’s 50 day simple moving average is $87.56 and its 200-day simple moving average is $74.43.

Futu (NASDAQ:FUTU) last issued its earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The firm had revenue of $400.73 million for the quarter. As a group, equities analysts anticipate that Futu Holdings Limited will post 4.75 earnings per share for the current fiscal year.

Institutional Trading of Futu

Institutional investors have recently added to or reduced their stakes in the business. APG Asset Management N.V. bought a new stake in Futu in the second quarter worth approximately $496,000. Valliance Asset Management Ltd bought a new stake in shares of Futu during the 3rd quarter worth $956,000. Sei Investments Co. boosted its holdings in shares of Futu by 261.3% during the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company’s stock worth $1,663,000 after buying an additional 18,334 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Futu in the 1st quarter valued at $747,000. Finally, Seven Eight Capital LP bought a new stake in Futu in the 2nd quarter valued at $1,956,000.

About Futu

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.