Futu Holdings Limited (NASDAQ:FUTU) Short Interest Down 5.0% in October

Futu Holdings Limited (NASDAQ:FUTU) saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 5,090,000 shares, a decrease of 5.0% from the September 30th total of 5,360,000 shares. Based on an average daily trading volume, of 3,940,000 shares, the short-interest ratio is currently 1.3 days.

Analyst Ratings Changes

Separately, Bank of America lifted their price objective on Futu from $80.20 to $90.00 and gave the stock 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.97.

Futu Trading Up 1.8 %

Shares of NASDAQ:FUTU traded up $1.70 during trading on Friday, reaching $96.69. The company’s stock had a trading volume of 1,120,046 shares, compared to its average volume of 2,280,486. The firm’s 50 day simple moving average is $82.35 and its two-hundred day simple moving average is $72.20. Futu has a 12 month low of $43.61 and a 12 month high of $130.50. The stock has a market capitalization of $13.32 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 1.00 and a beta of 0.74.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FUTU. Sequoia Financial Advisors LLC lifted its holdings in shares of Futu by 6.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock worth $238,000 after acquiring an additional 269 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Futu by 6.7% during the first quarter. BNP Paribas Financial Markets now owns 100,616 shares of the company’s stock valued at $5,448,000 after buying an additional 6,317 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Futu by 24.2% during the first quarter. Janney Montgomery Scott LLC now owns 10,318 shares of the company’s stock valued at $559,000 after buying an additional 2,011 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Futu by 8.6% in the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $206,000 after buying an additional 300 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in shares of Futu by 32.0% during the 1st quarter. GSA Capital Partners LLP now owns 52,941 shares of the company’s stock worth $2,867,000 after acquiring an additional 12,840 shares during the last quarter.

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.