OneConnect Financial Technology (NYSE:OCFT) Shares Up 1.2% – What’s Next?

OneConnect Financial Technology Co., Ltd. Sponsored ADR (NYSE:OCFT)’s stock price traded up 1.2% during trading on Wednesday . The stock traded as high as $7.18 and last traded at $7.10. 31,892 shares were traded during mid-day trading, a decline of 59% from the average session volume of 78,331 shares. The stock had previously closed at $7.01.

OneConnect Financial Technology Price Performance

The company has a market cap of $276.70 million, a price-to-earnings ratio of -4.70 and a beta of 0.52. The business has a 50 day simple moving average of $6.64 and a 200 day simple moving average of $4.98.

OneConnect Financial Technology (NYSE:OCFT) last released its earnings results on Wednesday, May 28th. The company reported ($0.15) EPS for the quarter. The firm had revenue of $50.57 million during the quarter. OneConnect Financial Technology had a negative net margin of 20.95% and a negative return on equity of 7.20%.

Hedge Funds Weigh In On OneConnect Financial Technology

Several institutional investors have recently modified their holdings of OCFT. E Fund Management Co. Ltd. bought a new stake in shares of OneConnect Financial Technology in the 1st quarter valued at $179,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of OneConnect Financial Technology in the first quarter worth about $179,000. Finally, OLD Mission Capital LLC acquired a new stake in shares of OneConnect Financial Technology during the first quarter worth about $376,000. 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 operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business.