Futu (NASDAQ:FUTU) Stock Price Up 4.2% – Time to Buy?

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

Analyst Ratings Changes

FUTU has been the topic of several research reports. Bank of America increased their target price on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Finally, Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and raised their target price 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.33.

Futu Stock Performance

The company has a market cap of $11.53 billion, a P/E ratio of 20.50, a P/E/G ratio of 0.88 and a beta of 0.72. The firm has a 50 day moving average price of $91.65 and a 200-day moving average price of $77.11.

Futu Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Aspex Management HK Ltd increased its position in Futu by 2.4% during the third quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock worth $435,497,000 after acquiring an additional 108,219 shares during the period. Marshall Wace LLP lifted its stake 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 valued at $99,813,000 after buying an additional 634,369 shares during the period. Hhlr Advisors LTD. grew its position in Futu by 46.8% during the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock worth $100,537,000 after buying an additional 335,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Futu by 502.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock valued at $53,444,000 after acquiring an additional 465,961 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Futu by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock valued at $51,475,000 after acquiring an additional 17,513 shares in 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.