Freedom (NASDAQ:FRHC) Shares Gap Down – Here’s What Happened

Freedom Holding Corp. (NASDAQ:FRHC)’s share price gapped down prior to trading on Friday . The stock had previously closed at $157.27, but opened at $151.55. Freedom shares last traded at $152.5010, with a volume of 6,165 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FRHC shares. Weiss Ratings restated a “sell (d+)” rating on shares of Freedom in a research report on Monday, December 29th. Wall Street Zen raised shares of Freedom from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Loop Capital set a $138.00 price target on shares of Freedom in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Freedom presently has a consensus rating of “Sell” and a consensus price target of $138.00.

Freedom Price Performance

The company’s 50 day moving average price is $131.70 and its 200-day moving average price is $138.47. The stock has a market cap of $9.23 billion, a P/E ratio of 7,542.00 and a beta of 0.73. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.03.

Freedom (NASDAQ:FRHC) last released its quarterly earnings results on Monday, February 9th. The company reported $1.25 earnings per share (EPS) for the quarter. The firm had revenue of $500.71 million during the quarter. Freedom had a net margin of 0.13% and a return on equity of 0.21%.

Hedge Funds Weigh In On Freedom

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its stake in Freedom by 290.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock worth $25,000 after buying an additional 154 shares during the last quarter. Wells Fargo & Company MN raised its stake in Freedom by 111.7% during the fourth quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock worth $62,000 after buying an additional 267 shares during the last quarter. Barclays PLC raised its stake in Freedom by 600.8% during the fourth quarter. Barclays PLC now owns 904 shares of the company’s stock worth $110,000 after buying an additional 775 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Freedom by 4,426.7% during the third quarter. Farther Finance Advisors LLC now owns 679 shares of the company’s stock worth $117,000 after buying an additional 664 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec raised its stake in Freedom by 18.2% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,406 shares of the company’s stock worth $171,000 after buying an additional 216 shares during the last quarter. Institutional investors own 1.26% of the company’s stock.

Freedom Company Profile

Freedom Holding Corp (NASDAQ: FRHC) is a diversified financial services holding company that provides a broad range of brokerage, trading, investment banking, and asset management services. Through its subsidiaries, the company caters to retail, institutional, and corporate clients by offering access to global capital markets, equity and fixed-income trading, and research-driven investment strategies.

The firm’s product suite includes online and over-the-counter brokerage platforms, margin lending, securities underwriting, and M&A advisory services.