Futu (NASDAQ:FUTU) Downgraded to Neutral at JPMorgan Chase & Co.

Futu (NASDAQ:FUTUGet Rating) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Thursday, The Fly reports.

A number of other research analysts have also recently commented on the company. TheStreet upgraded Futu from a “d+” rating to a “c” rating in a research note on Monday, March 14th. Bank of America upgraded Futu from an “underperform” rating to a “buy” rating in a research note on Friday, June 10th. Citigroup decreased their price target on Futu from $79.00 to $46.50 in a research note on Monday, March 14th. Finally, CLSA cut Futu from an “underperform” rating to a “sell” rating and set a $27.00 price target on the stock. in a research note on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Futu currently has a consensus rating of “Hold” and a consensus target price of $82.46.

Futu stock traded up $2.03 during mid-day trading on Thursday, hitting $52.42. The company’s stock had a trading volume of 168,601 shares, compared to its average volume of 4,383,834. The firm has a market capitalization of $7.88 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 0.95 and a beta of 0.82. Futu has a 1 year low of $21.23 and a 1 year high of $181.44. The stock’s fifty day moving average is $36.47 and its two-hundred day moving average is $35.13.

Futu (NASDAQ:FUTUGet Rating) last issued its quarterly earnings data on Monday, June 6th. The company reported $4.18 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.31. Futu had a return on equity of 10.59% and a net margin of 33.88%. During the same period last year, the business earned $1.03 earnings per share. As a group, analysts predict that Futu will post 2.28 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in Futu by 121.1% in the third quarter. Dimensional Fund Advisors LP now owns 116,152 shares of the company’s stock valued at $10,563,000 after buying an additional 63,630 shares during the last quarter. Segantii Capital Management Ltd increased its holdings in Futu by 34.3% in the fourth quarter. Segantii Capital Management Ltd now owns 268,600 shares of the company’s stock valued at $11,630,000 after buying an additional 68,600 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in Futu by 677.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 148,041 shares of the company’s stock valued at $6,410,000 after buying an additional 128,995 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in Futu by 3.0% in the third quarter. UBS Asset Management Americas Inc. now owns 172,091 shares of the company’s stock valued at $15,664,000 after buying an additional 5,062 shares during the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. increased its holdings in Futu by 1,034.7% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 524,409 shares of the company’s stock valued at $22,707,000 after buying an additional 478,193 shares during the last quarter. 23.33% of the stock is currently owned by hedge funds and other institutional investors.

Futu Company Profile (Get Rating)

Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program. It also offers online wealth management services under the brand of Futu Money Plus through its Futubull and moomoo platforms, which give access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas.

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