Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Short Interest Down 15.3% in February

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) was the target of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 3,084,028 shares, a drop of 15.3% from the February 12th total of 3,640,877 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average trading volume of 1,254,642 shares, the days-to-cover ratio is presently 2.5 days. Based on an average trading volume of 1,254,642 shares, the days-to-cover ratio is presently 2.5 days. Currently, 3.4% of the shares of the company are short sold.

Futu Stock Performance

Shares of FUTU traded down $1.79 during mid-day trading on Tuesday, reaching $147.26. The stock had a trading volume of 1,017,903 shares, compared to its average volume of 1,695,645. The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.37 and a beta of 0.38. Futu has a 12 month low of $70.60 and a 12 month high of $202.53. The business has a fifty day moving average of $157.68 and a 200 day moving average of $168.12.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Thursday, March 12th. The company reported $3.07 EPS for the quarter, beating the consensus estimate of $3.06 by $0.01. Futu had a net margin of 49.63% and a return on equity of 32.24%. The firm had revenue of $827.15 million for the quarter, compared to the consensus estimate of $788.73 million. On average, research analysts forecast that Futu will post 4.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on FUTU. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. The Goldman Sachs Group upgraded Futu from a “neutral” rating to a “buy” rating and set a $213.39 target price on the stock in a research report on Monday, February 2nd. Finally, Barclays cut their price target on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Futu has an average rating of “Buy” and an average price target of $210.57.

Hedge Funds Weigh In On Futu

Large investors have recently made changes to their positions in the business. Aspex Management HK Ltd boosted its stake in shares of Futu by 21.1% in the second quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock worth $419,379,000 after acquiring an additional 591,082 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Futu by 7.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,660,168 shares of the company’s stock valued at $288,720,000 after purchasing an additional 116,143 shares during the period. State Street Corp lifted its holdings in Futu by 18.4% in the 2nd quarter. State Street Corp now owns 1,212,481 shares of the company’s stock worth $149,851,000 after purchasing an additional 188,840 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. lifted its holdings in Futu by 14.0% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,135,821 shares of the company’s stock worth $186,513,000 after purchasing an additional 139,473 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Futu by 805.2% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock worth $195,933,000 after purchasing an additional 1,002,171 shares during the period.

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.