OneConnect Financial Technology (NYSE:OCFT) Stock Price Down 4.2%

OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) traded down 4.2% during mid-day trading on Wednesday . The stock traded as low as $1.77 and last traded at $1.82. 23,633 shares traded hands during mid-day trading, an increase of 13% from the average session volume of 20,873 shares. The stock had previously closed at $1.90.

Wall Street Analyst Weigh In

Separately, Citigroup upped their price target on shares of OneConnect Financial Technology from $6.98 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th.

OneConnect Financial Technology Price Performance

The company’s 50-day moving average price is $2.21 and its two-hundred day moving average price is $2.68. The company has a market capitalization of $70.98 million, a price-to-earnings ratio of -1.28 and a beta of 0.64.

OneConnect Financial Technology (NYSE:OCFT) last posted its quarterly earnings data on Monday, March 18th. The company reported ($0.31) earnings per share for the quarter. OneConnect Financial Technology had a negative return on equity of 11.80% and a negative net margin of 9.90%. The firm had revenue of $128.31 million for the quarter, compared to analyst estimates of $117.43 million. On average, equities research analysts expect that OneConnect Financial Technology Co., Ltd. will post -1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On OneConnect Financial Technology

A number of large investors have recently bought and sold shares of OCFT. Renaissance Technologies LLC grew its holdings in shares of OneConnect Financial Technology by 173.2% during the first quarter. Renaissance Technologies LLC now owns 1,484,124 shares of the company’s stock valued at $2,093,000 after buying an additional 940,910 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of OneConnect Financial Technology by 8.8% during the third quarter. Vanguard Group Inc. now owns 4,799,149 shares of the company’s stock valued at $3,465,000 after buying an additional 387,100 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of OneConnect Financial Technology by 261.5% during the second quarter. Jane Street Group LLC now owns 459,527 shares of the company’s stock valued at $786,000 after buying an additional 332,393 shares during the last quarter. Norges Bank acquired a new position in shares of OneConnect Financial Technology during the fourth quarter valued at about $865,000. Finally, ExodusPoint Capital Management LP grew its holdings in shares of OneConnect Financial Technology by 935.6% during the second quarter. ExodusPoint Capital Management LP now owns 145,194 shares of the company’s stock valued at $248,000 after buying an additional 131,174 shares during the last quarter. 4.05% of the stock is currently owned by institutional investors and hedge funds.

OneConnect Financial Technology Company Profile

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 AI Banker App to banks' relationship managers for managing the acquisition of retail customers and their relationships with retail customers; retail banking operation management platform for monitor retail banking business; wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business; customer incentive and management platform, which helps banks to set up their own customer reward portals; and intelligent risk management solutions.