Futu Holdings Limited (NASDAQ:FUTU) Short Interest Update

Futu Holdings Limited (NASDAQ:FUTU) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 4,350,000 shares, a growth of 5.6% from the January 15th total of 4,120,000 shares. Based on an average daily trading volume, of 2,490,000 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $115.00 in a research report on Monday, November 18th. Citigroup cut Futu from a “buy” rating to a “neutral” rating and raised their price objective for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.40.

Futu Stock Up 3.3 %

NASDAQ:FUTU opened at $121.82 on Tuesday. The firm has a market capitalization of $16.79 billion, a P/E ratio of 29.86, a P/E/G ratio of 0.77 and a beta of 0.76. The company has a fifty day moving average of $90.20 and a 200 day moving average of $84.30. Futu has a 52 week low of $49.17 and a 52 week high of $130.50.

Futu Dividend Announcement

The company also recently announced a — dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 6th were issued a dividend of $2.00 per share. The ex-dividend date was Friday, December 6th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its stake in Futu by 1,245.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock worth $36,000 after acquiring an additional 411 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Futu by 77.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock valued at $36,000 after buying an additional 197 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of Futu by 239.8% in the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock worth $55,000 after buying an additional 482 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Futu in the 4th quarter worth about $60,000. Finally, Assetmark Inc. lifted its position in Futu by 15,200.0% during the 4th quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after acquiring an additional 760 shares during the period.

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.