Futu Holdings Limited [NASDAQ: FUTU] plunged by -$10.06 during the normal trading session on Friday and reaching a high of $130.73 during the day while it closed the day at $124.62. The company report on June 3, 2021 that Futu sustains leading position by obtaining “BBB” credit rating from S&P, becoming first online brokerage in APAC with international rating.
Futu Holdings Limited (“Futu”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, is pleased to announce that it has obtained a “bbb” GCP (group credit profile) and a “BBB” investment grade long-term issuer credit rating from S&P Global Ratings (“S&P”). The outlook on the long-term rating is stable.
S&P expects that Futu will maintain its competitive position in the online brokerage industry and sustain its strong capitalization and adequate risk controls, along with business growth. Futu has thus become the first online brokerage in APAC to earn an international rating and the first Hong-Kong-based broker to obtain a standalone investment grade issuer rating.
Futu Holdings Limited stock has also loss -6.58% of its value over the past 7 days. However, FUTU stock has declined by -13.34% in the 3 months of the year. Over the past six months meanwhile, it has gained 24.76% and gained 172.39% year-on date.
The market cap for FUTU stock reached $19.75 billion, with 142.33 million shares outstanding and 53.39 million shares in the current float. Compared to the average trading volume of 4.61M shares, FUTU reached a trading volume of 8652618 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Futu Holdings Limited [FUTU]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FUTU shares is $195.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FUTU stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Futu Holdings Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 14, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on April 26, 2021, representing the official price target for Futu Holdings Limited stock. Previously, the target price had yet another raise to $253, while Morgan Stanley analysts kept a Overweight rating on FUTU stock.
The Average True Range (ATR) for Futu Holdings Limited is set at 10.25, with the Price to Sales ratio for FUTU stock in the period of the last 12 months amounting to 30.55. The Price to Book ratio for the last quarter was 14.52, with the Price to Cash per share for the same quarter was set at 56.62.
FUTU stock trade performance evaluation
Futu Holdings Limited [FUTU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.58. With this latest performance, FUTU shares dropped by -26.54% in over the last four-week period, additionally plugging by 24.76% over the last 6 months – not to mention a rise of 356.15% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FUTU stock in for the last two-week period is set at 36.81, with the RSI for the last a single of trading hit 32.30, and the three-weeks RSI is set at 40.62 for Futu Holdings Limited [FUTU]. The present Moving Average for the last 50 days of trading for this stock 144.34, while it was recorded at 135.32 for the last single week of trading, and 106.23 for the last 200 days.
Futu Holdings Limited [FUTU]: An insightful look at the core fundamentals
Earnings per share (EPS) analysis for Futu Holdings Limited [FUTU] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FUTU. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Futu Holdings Limited go to 9.03%.
Futu Holdings Limited [FUTU]: Insider Ownership positions
There are presently around $2,871 million, or 30.10% of FUTU stock, in the hands of institutional investors. The top three institutional holders of FUTU stocks are: TIGER GLOBAL MANAGEMENT LLC with ownership of 3,340,000, which is approximately New of the company’s market cap and around 8.17% of the total institutional ownership; GENERAL ATLANTIC LLC, holding 3,288,333 shares of the stock with an approximate value of $409.79 million in FUTU stocks shares; and SC CHINA HOLDING LTD, currently with $295.86 million in FUTU stock with ownership of nearly New of the company’s market capitalization.
Positions in Futu Holdings Limited stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 129 institutional holders increased their position in Futu Holdings Limited [NASDAQ:FUTU] by around 11,520,417 shares. Additionally, 79 investors decreased positions by around 20,848,375 shares, while 8 investors held positions by with 9,329,400 shares. The mentioned changes placed institutional holdings at 23,039,392 shares, according to the latest SEC report filing. FUTU stock had 92 new institutional investments in for a total of 10,251,162 shares, while 24 institutional investors sold positions of 3,591,528 shares during the same period.