Futu Sees Unusually Large Options Volume (NASDAQ:FUTU)

Futu Holdings Limited (NASDAQ:FUTU) saw some unusual options trading activity on Thursday. Investors acquired 13,534 call options on the stock. This is an increase of approximately 73% compared to the average daily volume of 7,810 call options.

Analyst Ratings Changes

FUTU has been the topic of several analyst reports. JPMorgan Chase & Co. raised Futu from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $62.00 to $92.00 in a research report on Tuesday, May 28th. Bank of America increased their price objective on Futu from $77.60 to $80.20 and gave the company a “buy” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.57.

Futu Trading Down 3.4 %

NASDAQ:FUTU opened at $65.53 on Friday. The company has a 50 day simple moving average of $60.93 and a two-hundred day simple moving average of $63.91. The company has a market cap of $9.03 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.72. Futu has a 12 month low of $43.61 and a 12 month high of $81.86.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data 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 company had revenue of $400.73 million during the quarter. Research analysts forecast that Futu will post 4.51 earnings per share for the current year.

Institutional Investors Weigh In On Futu

Several hedge funds and other institutional investors have recently made changes to their positions in FUTU. Marshall Wace LLP boosted its holdings in shares of Futu by 71.5% in the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock worth $99,813,000 after buying an additional 634,369 shares during the last quarter. Prudential PLC grew its position in shares of Futu by 23.2% during the 4th quarter. Prudential PLC now owns 597,476 shares of the company’s stock valued at $32,640,000 after acquiring an additional 112,497 shares during the period. E Fund Management Co. Ltd. purchased a new stake in shares of Futu in the 2nd quarter worth $31,490,000. HCEP Management Ltd raised its holdings in Futu by 37.7% in the 4th quarter. HCEP Management Ltd now owns 400,000 shares of the company’s stock worth $21,852,000 after purchasing an additional 109,499 shares during the period. Finally, National Bank of Canada FI lifted its position in Futu by 3,253,333.3% during the second quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock valued at $18,790,000 after purchasing an additional 292,800 shares in the last quarter.

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.