Freedom (NASDAQ:FRHC) Shares Up 6.6% – Here’s Why

Freedom Holding Corp. (NASDAQ:FRHC)’s share price was up 6.6% during mid-day trading on Friday . The stock traded as high as $118.72 and last traded at $119.4550. Approximately 83,049 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 115,134 shares. The stock had previously closed at $112.03.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FRHC shares. Loop Capital set a $59.00 price objective on shares of Freedom in a research report on Thursday, January 22nd. Wall Street Zen raised Freedom from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Freedom in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Freedom has a consensus rating of “Sell” and a consensus price target of $59.00.

Freedom Stock Up 6.8%

The firm has a market capitalization of $7.32 billion, a P/E ratio of 5,982.50 and a beta of 0.84. The business has a 50 day moving average price of $126.08 and a 200 day moving average price of $147.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.15 and a quick ratio of 1.15.

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

Institutional Trading of Freedom

A number of hedge funds have recently modified their holdings of FRHC. Caitong International Asset Management Co. Ltd raised its stake 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 valued at $25,000 after purchasing an additional 154 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Freedom by 111.7% during the 4th quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock worth $62,000 after acquiring an additional 267 shares during the period. Barclays PLC boosted its position in shares of Freedom by 600.8% during the 4th quarter. Barclays PLC now owns 904 shares of the company’s stock valued at $110,000 after acquiring an additional 775 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Freedom by 4,426.7% in the third quarter. Farther Finance Advisors LLC now owns 679 shares of the company’s stock valued at $117,000 after acquiring an additional 664 shares during the period. Finally, Federation des caisses Desjardins du Quebec raised its position in Freedom by 18.2% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,406 shares of the company’s stock worth $171,000 after purchasing an additional 216 shares in the last quarter. 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.