OneConnect Financial Technology (NYSE:OCFT) Trading Down 2.9%

Shares of OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) fell 2.9% during trading on Thursday . The company traded as low as $1.97 and last traded at $2.01. 32,109 shares traded hands during trading, an increase of 53% from the average session volume of 20,918 shares. The stock had previously closed at $2.07.

Analyst Upgrades and Downgrades

Separately, Citigroup increased 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 note on Tuesday, March 19th.

OneConnect Financial Technology Stock Down 2.9 %

The company has a market cap of $78.39 million, a PE ratio of -1.42 and a beta of 0.63. The stock has a 50-day simple moving average of $2.16 and a 200 day simple moving average of $2.56.

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

About OneConnect Financial Technology

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.