OneConnect Financial Technology (NYSE:OCFT) Trading Down 1.1% – Time to Sell?

OneConnect Financial Technology Co., Ltd. Sponsored ADR (NYSE:OCFT) shares dropped 1.1% during trading on Tuesday . The stock traded as low as $7.42 and last traded at $7.45. Approximately 64,229 shares were traded during trading, a decline of 21% from the average daily volume of 81,448 shares. The stock had previously closed at $7.53.

OneConnect Financial Technology Trading Down 1.1%

The firm has a market capitalization of $290.36 million, a P/E ratio of -4.93 and a beta of 0.50. The stock has a 50-day simple moving average of $7.10 and a two-hundred day simple moving average of $5.61.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OCFT. E Fund Management Hong Kong Co. Ltd. bought a new position in OneConnect Financial Technology in the first quarter worth about $179,000. E Fund Management Co. Ltd. bought a new position in shares of OneConnect Financial Technology during the 1st quarter worth approximately $179,000. Finally, OLD Mission Capital LLC purchased a new stake in OneConnect Financial Technology during the first quarter valued at approximately $376,000. 4.05% of the stock is owned by institutional investors.

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.