Freedom (NASDAQ:FRHC) Sees Large Volume Increase – Should You Buy?

Freedom Holding Corp. (NASDAQ:FRHC) shares saw unusually-high trading volume on Thursday . Approximately 170,835 shares traded hands during 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.

Analyst Ratings Changes

FRHC has been the topic of a number of research reports. KeyCorp reiterated a “market perform” rating on shares of Freedom in a research report on Friday. Weiss Ratings upgraded shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, Loop Capital set a $138.00 target price on shares of Freedom in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $138.00.

Freedom Price Performance

The company’s fifty day moving average is $148.49 and its two-hundred day moving average is $135.81. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 59.17 and a beta of 0.69. The company has a quick ratio of 1.15, a current ratio of 1.03 and a debt-to-equity ratio of 0.03.

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 analyst estimates 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 hedge funds have recently bought and sold shares of the company. State Street Corp raised its holdings in Freedom by 2.3% in the fourth quarter. State Street Corp now owns 213,325 shares of the company’s stock worth $25,957,000 after purchasing an additional 4,871 shares during the period. First Trust Advisors LP raised its holdings in Freedom by 11.5% in the fourth quarter. First Trust Advisors LP now owns 204,723 shares of the company’s stock worth $24,911,000 after purchasing an additional 21,191 shares during the period. Geode Capital Management LLC raised its holdings in Freedom by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 167,720 shares of the company’s stock worth $20,405,000 after purchasing an additional 950 shares during the period. Millennium Management LLC raised its holdings in Freedom by 648.1% in the first quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock worth $16,117,000 after purchasing an additional 105,641 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Freedom by 188.6% in the third quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company’s stock worth $13,094,000 after purchasing an additional 49,712 shares during the period. 1.26% of the stock is currently owned by institutional investors and hedge funds.

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.