Futu Holdings Limited (NASDAQ:FUTU) Given Consensus Recommendation of “Moderate Buy” by Analysts

Futu Holdings Limited (NASDAQ:FUTU) has earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $71.57.

A number of research firms recently weighed in on FUTU. JPMorgan Chase & Co. raised shares of Futu from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $62.00 to $92.00 in a research report on Tuesday, May 28th. Bank of America increased their target price on Futu from $77.60 to $80.20 and gave the stock a “buy” rating in a research note on Wednesday, August 21st.

Futu Price Performance

NASDAQ FUTU opened at $63.56 on Tuesday. Futu has a 12 month low of $43.61 and a 12 month high of $81.86. The stock has a market capitalization of $8.76 billion, a P/E ratio of 16.81, a PEG ratio of 0.98 and a beta of 0.74. The firm’s 50-day moving average is $62.99 and its two-hundred day moving average is $63.29.

Institutional Trading of Futu

Several hedge funds have recently added to or reduced their stakes in FUTU. Allspring Global Investments Holdings LLC acquired a new stake in shares of Futu in the 2nd quarter valued at $50,000. UniSuper Management Pty Ltd lifted its holdings in Futu by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $43,000 after buying an additional 400 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Futu during the 1st quarter worth about $65,000. SG Americas Securities LLC acquired a new position in shares of Futu during the 2nd quarter worth about $123,000. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Futu in the 2nd quarter valued at about $142,000.

Futu Company Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.