Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) was down 2.2% during mid-day trading on Thursday . The stock traded as low as $85.02 and last traded at $85.06. Approximately 539,477 shares changed hands during trading, a decline of 77% from the average daily volume of 2,342,178 shares. The stock had previously closed at $87.00.
Several research analysts have recently weighed in on FUTU shares. Citigroup downgraded shares of Futu from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. Bank of America increased their target price on Futu from $80.20 to $90.00 and gave the company a "buy" rating in a report on Friday, September 27th. Finally, Morgan Stanley raised Futu from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $70.00 to $115.00 in a research report on Monday, November 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Futu presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.33.
Check Out Our Latest Report on FUTU
The firm has a market capitalization of $11.95 billion, a PE ratio of 21.25, a PEG ratio of 0.88 and a beta of 0.72. The firm's fifty day moving average price is $89.89 and its 200 day moving average price is $77.48.
The company also recently declared a -- dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 6th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, December 6th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its holdings in shares of Futu by 135.3% during the 3rd quarter. Tidal Investments LLC now owns 9,517 shares of the company's stock valued at $910,000 after purchasing an additional 5,472 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of Futu by 241.1% during the 3rd quarter. Virtu Financial LLC now owns 23,846 shares of the company's stock worth $2,281,000 after acquiring an additional 16,855 shares in the last quarter. Toronto Dominion Bank grew its holdings in Futu by 61.8% during the third quarter. Toronto Dominion Bank now owns 11,482 shares of the company's stock valued at $1,098,000 after purchasing an additional 4,387 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Futu by 3.3% in the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company's stock valued at $51,475,000 after purchasing an additional 17,513 shares during the period. Finally, M&T Bank Corp acquired a new stake in shares of Futu in the third quarter worth $203,000.
Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.
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