Futu (NASDAQ:FUTU) Reaches New 1-Year Low – Here’s What Happened

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $80.50 and last traded at $90.3990, with a volume of 24789333 shares traded. The stock had previously closed at $123.86.

Analyst Ratings Changes

A number of brokerages recently issued reports on FUTU. The Goldman Sachs Group set a $205.00 target price on shares of Futu in a research report on Monday, May 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. Barclays dropped their target price on shares of Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Zacks Research cut shares of Futu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $87.00 price objective on shares of Futu in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $178.67.

Futu Stock Performance

The firm’s 50-day moving average price is $146.73 and its 200 day moving average price is $158.75. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 0.87 and a beta of 0.52.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Sunday, February 15th. The company reported $3.07 EPS for the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. The company had revenue of $771.00 million during the quarter. As a group, equities research analysts predict that Futu Holdings Limited Sponsored ADR will post 11.78 EPS for the current fiscal year.

Futu Dividend Announcement

The firm also recently declared a special dividend, which was paid on Wednesday, April 29th. Stockholders of record on Thursday, April 16th were given a dividend of $2.60 per share. The ex-dividend date was Thursday, April 16th. Futu’s payout ratio is currently 24.81%.

Institutional Investors Weigh In On Futu

Institutional investors have recently modified their holdings of the business. Allianz Asset Management GmbH boosted its stake in Futu by 936.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 51,620 shares of the company’s stock worth $8,977,000 after acquiring an additional 46,639 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Futu during the 3rd quarter worth approximately $3,439,000. Veritas Asset Management LLP boosted its stake in Futu by 40.9% during the 3rd quarter. Veritas Asset Management LLP now owns 420,857 shares of the company’s stock worth $73,191,000 after acquiring an additional 122,207 shares during the last quarter. Lingohr Asset Management GmbH bought a new position in Futu during the 3rd quarter worth approximately $2,922,000. Finally, Capital International Inc. CA bought a new position in Futu during the 3rd quarter worth approximately $39,369,000.

Futu Company Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.