Freedom (NASDAQ:FRHC) Hits New 12-Month Low – What’s Next?

Freedom Holding Corp. (NASDAQ:FRHC)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $111.57 and last traded at $113.0150, with a volume of 69260 shares changing hands. The stock had previously closed at $116.40.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FRHC. Loop Capital set a $59.00 target price on shares of Freedom in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Freedom in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Freedom from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Freedom has an average rating of “Sell” and a consensus price target of $59.00.

Freedom Price Performance

The stock’s 50 day moving average is $127.39 and its two-hundred day moving average is $148.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $6.87 billion, a PE ratio of 5,616.00 and a beta of 0.84.

Freedom (NASDAQ:FRHC) last released its earnings results on Monday, February 9th. The company reported $1.25 earnings per share for the quarter. Freedom had a return on equity of 0.21% and a net margin of 0.13%.The business had revenue of $628.62 million for the quarter.

Institutional Trading of Freedom

Large investors have recently bought and sold shares of the business. First Trust Advisors LP acquired a new stake in Freedom in the 3rd quarter valued at about $31,591,000. Geode Capital Management LLC increased its holdings in shares of Freedom by 198.5% in the second quarter. Geode Capital Management LLC now owns 159,904 shares of the company’s stock valued at $23,350,000 after purchasing an additional 106,338 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Freedom by 648.1% in the first quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock valued at $16,117,000 after purchasing an additional 105,641 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Freedom by 214.4% during the first quarter. Goldman Sachs Group Inc. now owns 75,018 shares of the company’s stock worth $9,915,000 after buying an additional 51,159 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Freedom by 188.6% during the third quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company’s stock worth $13,094,000 after buying an additional 49,712 shares during the last quarter. Hedge funds and other institutional investors own 1.26% of the company’s stock.

Freedom Company Profile

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.