Futu (FUTU) Set to Announce Earnings on Wednesday

Futu (NASDAQ:FUTU – Get Rating) is scheduled to be releasing its earnings data before the market opens on Wednesday, May 24th. Persons that wish to register for the company’s earnings conference call can do so using this link.

Futu Trading Down 4.4 %

Shares of Futu stock opened at $41.24 on Wednesday. The company has a fifty day moving average price of $46.18 and a 200 day moving average price of $49.94. Futu has a twelve month low of $28.00 and a twelve month high of $72.20. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 6.58 and a beta of 0.79.

Hedge Funds Weigh In On Futu

A number of institutional investors have recently added to or reduced their stakes in FUTU. Envestnet Asset Management Inc. lifted its holdings in Futu by 4,000.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,015,846 shares of the company’s stock worth $759,000 after buying an additional 991,074 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Futu in the 4th quarter worth $17,858,000. Morgan Stanley lifted its holdings in Futu by 33.8% in the 4th quarter. Morgan Stanley now owns 1,371,112 shares of the company’s stock worth $55,736,000 after buying an additional 346,382 shares in the last quarter. BlackRock Inc. lifted its holdings in Futu by 9.3% in the 1st quarter. BlackRock Inc. now owns 2,586,169 shares of the company’s stock worth $84,204,000 after buying an additional 220,500 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Futu by 108.0% in the 1st quarter. Bank of America Corp DE now owns 375,682 shares of the company’s stock worth $19,479,000 after buying an additional 195,074 shares in the last quarter. Institutional investors and hedge funds own 19.92% of the company’s stock.

About Futu

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Futu Holdings Ltd. is an advanced technology company, which engages in providing fully digitalized financial services. It provides investing services through its proprietary digital platforms, Futubull and moomoo that allows investors to trade securities and invest in fund products. The company was founded by Leaf Hua Li in December 2007 and is headquartered in Hong Kong.