Freedom (NASDAQ:FRHC) Sees Unusually-High Trading Volume – What’s Next?

Freedom Holding Corp. (NASDAQ:FRHC) saw an uptick in trading volume on Thursday . 170,835 shares were traded during mid-day trading, an increase of 52% from the previous session’s volume of 112,289 shares.The stock last traded at $155.9350 and had previously closed at $158.56.

Wall Street Analyst Weigh In

Several research firms recently commented on FRHC. Loop Capital set a $138.00 price objective on Freedom in a research note on Thursday, February 26th. Weiss Ratings upgraded Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Freedom currently has an average rating of “Hold” and a consensus target price of $138.00.

Freedom Trading Down 0.2%

The company has a quick ratio of 1.15, a current ratio of 1.03 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $148.11 and a 200 day moving average of $135.59. The firm has a market cap of $9.70 billion, a PE ratio of 62.83 and a beta of 0.69.

Freedom (NASDAQ:FRHC) last posted its earnings results on Monday, June 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.74). The company had revenue of $486.15 million for the quarter, compared to analysts’ expectations of $124.14 million. Freedom had a return on equity of 11.50% and a net margin of 7.00%.

Institutional Investors Weigh In On Freedom

Several institutional investors have recently made changes to their positions in the stock. Xponance LLC raised its position in shares of Freedom by 4.1% in the fourth quarter. Xponance LLC now owns 2,498 shares of the company’s stock worth $304,000 after buying an additional 98 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in shares of Freedom by 1.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 8,110 shares of the company’s stock worth $987,000 after buying an additional 98 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Freedom by 10.3% in the first quarter. SG Americas Securities LLC now owns 1,274 shares of the company’s stock worth $185,000 after buying an additional 119 shares in the last quarter. Arizona State Retirement System raised its position in shares of Freedom by 2.3% in the third quarter. Arizona State Retirement System now owns 5,419 shares of the company’s stock worth $933,000 after buying an additional 121 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Freedom by 290.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock worth $25,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 1.26% of the company’s stock.

About Freedom

Freedom Holding Corp (NASDAQ: FRHC) is a diversified financial services holding company that provides a broad range of brokerage, trading, investment banking, and asset management services. Through its subsidiaries, the company caters to retail, institutional, and corporate clients by offering access to global capital markets, equity and fixed-income trading, and research-driven investment strategies.

The firm’s product suite includes online and over-the-counter brokerage platforms, margin lending, securities underwriting, and M&A advisory services.