OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Given Consensus Recommendation of “Hold” by Brokerages

OneConnect Financial Technology Co., Ltd. (NYSE:OCFT – Get Rating) has been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.50.

Several equities research analysts have issued reports on OCFT shares. HSBC downgraded OneConnect Financial Technology from a “buy” rating to a “hold” rating in a report on Thursday, February 24th. JPMorgan Chase & Co. cut shares of OneConnect Financial Technology from a “neutral” rating to an “underweight” rating in a report on Monday, March 14th. Finally, Zacks Investment Research upgraded shares of OneConnect Financial Technology from a “sell” rating to a “hold” rating in a report on Thursday, April 21st.

A number of hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. boosted its position in OneConnect Financial Technology by 303.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 19,889 shares of the company’s stock valued at $50,000 after purchasing an additional 14,962 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of OneConnect Financial Technology in the 1st quarter valued at approximately $35,000. Dynamic Technology Lab Private Ltd bought a new position in shares of OneConnect Financial Technology in the third quarter valued at $142,000. GSA Capital Partners LLP acquired a new position in OneConnect Financial Technology during the fourth quarter worth $90,000. Finally, Daiwa Securities Group Inc. raised its position in OneConnect Financial Technology by 573.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 36,547 shares of the company’s stock worth $90,000 after acquiring an additional 31,118 shares in the last quarter. Hedge funds and other institutional investors own 14.91% of the company’s stock.

NYSE OCFT traded down $0.06 during trading on Tuesday, reaching $1.37. 8,583 shares of the stock traded hands, compared to its average volume of 967,373. The firm has a market cap of $534.29 million, a price-to-earnings ratio of -2.59 and a beta of 0.40. The stock’s 50-day moving average price is $1.45 and its 200 day moving average price is $2.10. OneConnect Financial Technology has a fifty-two week low of $0.99 and a fifty-two week high of $19.60.

OneConnect Financial Technology (NYSE:OCFT – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($0.15) earnings per share for the quarter. OneConnect Financial Technology had a negative return on equity of 29.06% and a negative net margin of 31.00%. The firm had revenue of $200.24 million for the quarter. As a group, equities analysts anticipate that OneConnect Financial Technology will post -0.41 EPS for the current fiscal year.

About OneConnect Financial Technology (Get Rating)

OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It offers digital retail banking, digital commercial banking, digital auto insurance and life insurance, and artificial intelligence customer services, as well as sales management, risk management, and operation support services.

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