Futu (NASDAQ:FUTU) Sees Strong Trading Volume – What’s Next?

Futu Holdings Limited (NASDAQ:FUTU) saw strong trading volume on Friday . 1,302,016 shares were traded during mid-day trading, a decline of 15% from the previous session’s volume of 1,532,328 shares.The stock last traded at $87.89 and had previously closed at $80.40.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FUTU shares. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. Bank of America increased their target price on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Futu presently has an average rating of “Moderate Buy” and an average price target of $91.40.

Futu Trading Up 8.6 %

The company has a market cap of $12.03 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 0.60 and a beta of 0.75. The business has a fifty day simple moving average of $84.96 and a two-hundred day simple moving average of $78.56.

Futu Dividend Announcement

The firm also recently declared a — dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 6th were given a dividend of $2.00 per share. The ex-dividend date was Friday, December 6th.

Institutional Trading of Futu

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Futu by 181.5% in the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after purchasing an additional 383 shares in the last quarter. CWM LLC boosted its position in shares of Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after acquiring an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Futu by 14.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock valued at $84,000 after purchasing an additional 112 shares during the period. Venturi Wealth Management LLC acquired a new stake in Futu during the third quarter worth about $92,000. Finally, Janus Henderson Group PLC acquired a new position in Futu in the 3rd quarter valued at about $201,000.

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.