OneConnect Financial Technology Co. Ltd. [OCFT] is -63.40% lower this YTD. Is it still time to buy?

OneConnect Financial Technology Co. Ltd. [NYSE: OCFT] price surged by 45.78 percent to reach at $0.28. The company report on October 10, 2022 that OneConnect unveils OneConnect Smart Technology in the UAE.


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OneConnect Financial Technology Co., Ltd (“OneConnect” or the “Company”, Stock Code: 6638.HK), a leading Technology-as-a-Service (“TaaS”) provider, today unveiled OneConnect Smart Technology (ME) Limited in the United Arab Emirates (UAE) at the Abu Dhabi Global Market (ADGM), the leading international financial centre of the capital of the UAE.

Earlier, OneConnect announced that it will help develop the ADGM SME Financing Platform, an integrated digital finance marketplace that will transform the financing services landscape for small and medium enterprises (SMEs) in the UAE. The intelligent marketplace aims to advance financial inclusion, enhance transparency, alleviate cost of finance operations for SMEs and improve the overall customer experience for SMEs and their funding partners.

A sum of 5751846 shares traded at recent session while its average daily volume was at 364.88K shares. OneConnect Financial Technology Co. Ltd. shares reached a high of $1.00 and dropped to a low of $0.6379 until finishing in the latest session at $0.90.

The one-year OCFT stock forecast points to a potential upside of 43.04. The average equity rating for OCFT stock is currently 2.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on OneConnect Financial Technology Co. Ltd. [OCFT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OCFT shares is $1.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OCFT stock is a recommendation set at 2.70. 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.

HSBC Securities have made an estimate for OneConnect Financial Technology Co. Ltd. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 18, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on April 11, 2022, representing the official price target for OneConnect Financial Technology Co. Ltd. stock. Previously, the target price had yet another raise to $1.50, while HSBC Securities analysts kept a Hold rating on OCFT stock. On August 04, 2021, analysts decreased their price target for OCFT shares from 19 to 7.50.

The Average True Range (ATR) for OneConnect Financial Technology Co. Ltd. is set at 0.09, with the Price to Sales ratio for OCFT stock in the period of the last 12 months amounting to 0.57. The Price to Book ratio for the last quarter was 0.75, with the Price to Cash per share for the same quarter was set at 1.18. Price to Free Cash Flow for OCFT in the course of the last twelve months was 82.78 with Quick ratio for the last quarter at 1.20.

OCFT Stock Performance Analysis:

OneConnect Financial Technology Co. Ltd. [OCFT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 44.64. With this latest performance, OCFT shares gained by 15.42% in over the last four-week period, additionally sinking by -36.34% over the last 6 months – not to mention a drop of -74.17% 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 OCFT stock in for the last two-week period is set at 59.47, with the RSI for the last a single of trading hit 67.31, and the three-weeks RSI is set at 53.59 for OneConnect Financial Technology Co. Ltd. [OCFT]. The present Moving Average for the last 50 days of trading for this stock 0.8926, while it was recorded at 0.6580 for the last single week of trading, and 1.3971 for the last 200 days.

Insight into OneConnect Financial Technology Co. Ltd. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and OneConnect Financial Technology Co. Ltd. [OCFT] shares currently have an operating margin of -33.66 and a Gross Margin at +31.48. OneConnect Financial Technology Co. Ltd.’s Net Margin is presently recorded at -31.02.

Return on Total Capital for OCFT is now -21.70, given the latest momentum, and Return on Invested Capital for the company is -27.49. Return on Equity for this stock declined to -28.60, with Return on Assets sitting at -12.70. When it comes to the capital structure of this company, OneConnect Financial Technology Co. Ltd. [OCFT] has a Total Debt to Total Equity ratio set at 32.73. Additionally, OCFT Total Debt to Total Capital is recorded at 24.66, with Total Debt to Total Assets ending up at 13.29. Long-Term Debt to Equity for the company is recorded at 5.95, with the Long-Term Debt to Total Capital now at 4.48.

Reflecting on the efficiency of the workforce at the company, OneConnect Financial Technology Co. Ltd. [OCFT] managed to generate an average of -$402,061 per employee. Receivables Turnover for the company is 3.70 with a Total Asset Turnover recorded at a value of 0.41.OneConnect Financial Technology Co. Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

OCFT Stock EPS

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 OCFT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for OneConnect Financial Technology Co. Ltd. go to 9.19%.

OneConnect Financial Technology Co. Ltd. [OCFT] Insider Position Details

There are presently around $21 million, or 6.60% of OCFT stock, in the hands of institutional investors. The top three institutional holders of OCFT stocks are: VANGUARD GROUP INC with ownership of 4,412,049, which is approximately -1.509% of the company’s market cap and around 15.47% of the total institutional ownership; BLACKROCK INC., holding 3,053,225 shares of the stock with an approximate value of $2.76 million in OCFT stocks shares; and LAZARD ASSET MANAGEMENT LLC, currently with $1.99 million in OCFT stock with ownership of nearly 112.785% of the company’s market capitalization.

Positions in OneConnect Financial Technology Co. Ltd. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 32 institutional holders increased their position in OneConnect Financial Technology Co. Ltd. [NYSE:OCFT] by around 4,180,957 shares. Additionally, 38 investors decreased positions by around 25,661,015 shares, while 8 investors held positions by with 6,806,627 shares. The mentioned changes placed institutional holdings at 23,035,345 shares, according to the latest SEC report filing. OCFT stock had 11 new institutional investments in for a total of 336,832 shares, while 18 institutional investors sold positions of 19,261,474 shares during the same period.

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