Futu (NASDAQ:FUTU) Shares Gap Down – Should You Sell?

Futu Holdings Limited (NASDAQ:FUTU)’s share price gapped down prior to trading on Friday . The stock had previously closed at $84.69, but opened at $81.68. Futu shares last traded at $82.18, with a volume of 900,402 shares trading hands.

Wall Street Analyst Weigh In

FUTU has been the subject of a number of recent analyst reports. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $79.00 to $95.00 in a research report on Tuesday. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $115.00 in a research report on Monday. Finally, Bank of America boosted 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.07.

Futu Stock Down 0.6 %

The stock has a fifty day moving average of $92.37 and a 200-day moving average of $75.56. The stock has a market capitalization of $11.60 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 0.89 and a beta of 0.75.

Futu (NASDAQ:FUTU) last posted its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. The firm had revenue of $400.73 million during the quarter. Futu had a return on equity of 17.33% and a net margin of 38.59%. Equities research analysts expect that Futu Holdings Limited will post 4.81 EPS for the current year.

Institutional Trading of Futu

Large investors have recently bought and sold shares of the business. APG Asset Management N.V. acquired a new stake in Futu in the second quarter valued at about $496,000. Valliance Asset Management Ltd purchased a new stake in shares of Futu in the third quarter valued at approximately $956,000. Sei Investments Co. grew its holdings in Futu by 261.3% during the second quarter. Sei Investments Co. now owns 25,351 shares of the company’s stock worth $1,663,000 after acquiring an additional 18,334 shares during the period. Seven Eight Capital LP purchased a new position in Futu in the second quarter worth $1,956,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Futu by 14.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock valued at $11,245,000 after acquiring an additional 15,127 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.